Brokerages expect EPAM Systems Inc (NYSE:EPAM) to post sales of $580.03 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for EPAM Systems’ earnings. The lowest sales estimate is $578.90 million and the highest is $580.55 million. EPAM Systems reported sales of $468.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.9%. The firm is scheduled to announce its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that EPAM Systems will report full-year sales of $2.27 billion for the current year, with estimates ranging from $2.25 billion to $2.28 billion. For the next year, analysts expect that the company will post sales of $2.77 billion, with estimates ranging from $2.75 billion to $2.80 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover EPAM Systems.
EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. EPAM Systems had a return on equity of 18.90% and a net margin of 11.98%. The company had revenue of $551.60 million for the quarter, compared to analyst estimates of $549.84 million. During the same period in the prior year, the firm earned $1.01 earnings per share. EPAM Systems’s revenue for the quarter was up 23.8% on a year-over-year basis.
A number of equities research analysts recently commented on the company. Cantor Fitzgerald increased their price target on EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Cowen increased their price target on EPAM Systems from $180.00 to $210.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $176.00.
In other news, CMO Elaina Shekhter sold 2,800 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $195.00, for a total transaction of $546,000.00. Following the completion of the sale, the chief marketing officer now directly owns 10,459 shares of the company’s stock, valued at approximately $2,039,505. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jason D. Peterson sold 3,469 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $186.92, for a total value of $648,425.48. Following the sale, the chief financial officer now directly owns 15,473 shares of the company’s stock, valued at $2,892,213.16. The disclosure for this sale can be found here. Insiders sold a total of 77,346 shares of company stock valued at $13,570,832 over the last three months. 5.30% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in EPAM Systems in the 2nd quarter worth about $31,000. Shamrock Asset Management LLC bought a new position in EPAM Systems in the 2nd quarter worth about $31,000. Flagship Harbor Advisors LLC boosted its stake in EPAM Systems by 337.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 201 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 155 shares during the period. Penserra Capital Management LLC bought a new position in EPAM Systems in the 1st quarter worth about $37,000. Finally, Captrust Financial Advisors raised its holdings in shares of EPAM Systems by 49.0% in the 2nd quarter. Captrust Financial Advisors now owns 228 shares of the information technology services provider’s stock valued at $39,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 93.49% of the company’s stock.
Shares of NYSE:EPAM traded down $5.25 during trading on Tuesday, reaching $178.92. 335,627 shares of the stock were exchanged, compared to its average volume of 394,133. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.72 and a quick ratio of 4.72. EPAM Systems has a 1-year low of $104.77 and a 1-year high of $201.00. The stock has a fifty day moving average of $190.19 and a two-hundred day moving average of $177.22. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 45.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43.
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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