Wall Street brokerages forecast that EPAM Systems Inc (NYSE:EPAM) will announce sales of $549.63 million for the current quarter, Zacks reports. Four analysts have issued estimates for EPAM Systems’ earnings, with the highest sales estimate coming in at $550.37 million and the lowest estimate coming in at $549.04 million. EPAM Systems posted sales of $445.65 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.3%. The firm is expected to report its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that EPAM Systems will report full year sales of $2.26 billion for the current financial year, with estimates ranging from $2.25 billion to $2.26 billion. For the next fiscal year, analysts expect that the company will post sales of $2.74 billion, with estimates ranging from $2.72 billion to $2.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover EPAM Systems.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. The company had revenue of $521.30 million during the quarter, compared to the consensus estimate of $519.11 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis.
A number of research analysts recently issued reports on EPAM shares. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. VTB Capital downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems to $167.00 and gave the stock an “overweight” rating in a research note on Friday, February 15th. KeyCorp lifted their price target on shares of EPAM Systems from $144.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Finally, SunTrust Banks lifted their price target on shares of EPAM Systems to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $160.00.
EPAM Systems stock traded up $1.06 during trading on Friday, reaching $167.47. The stock had a trading volume of 7,481 shares, compared to its average volume of 394,541. EPAM Systems has a 52-week low of $104.77 and a 52-week high of $180.55. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $9.12 billion, a P/E ratio of 42.91, a P/E/G ratio of 2.05 and a beta of 1.63.
In other news, Director Ronald P. Vargo sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $159.64, for a total transaction of $319,280.00. Following the completion of the sale, the director now owns 10,276 shares in the company, valued at approximately $1,640,460.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $170.25, for a total transaction of $170,250.00. Following the sale, the chief financial officer now owns 13,039 shares of the company’s stock, valued at approximately $2,219,889.75. The disclosure for this sale can be found here. Insiders have sold a total of 58,000 shares of company stock valued at $9,597,730 in the last 90 days. Insiders own 5.30% of the company’s stock.
Several large investors have recently modified their holdings of EPAM. Norges Bank acquired a new position in shares of EPAM Systems in the 4th quarter valued at $60,882,000. OppenheimerFunds Inc. increased its holdings in shares of EPAM Systems by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock valued at $267,438,000 after acquiring an additional 165,855 shares during the period. Morgan Stanley increased its holdings in shares of EPAM Systems by 1.9% in the 1st quarter. Morgan Stanley now owns 6,210,524 shares of the information technology services provider’s stock valued at $1,050,386,000 after acquiring an additional 118,519 shares during the period. Vanguard Group Inc increased its holdings in shares of EPAM Systems by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 4,447,536 shares of the information technology services provider’s stock valued at $612,425,000 after acquiring an additional 117,376 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of EPAM Systems by 60.1% in the 4th quarter. Victory Capital Management Inc. now owns 286,659 shares of the information technology services provider’s stock valued at $33,255,000 after acquiring an additional 107,589 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.
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