EPAM Systems (NYSE:EPAM) Issues Q2 2024 Earnings Guidance

EPAM Systems (NYSE:EPAM) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.210-2.290 for the period, compared to the consensus EPS estimate of 2.440. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.2 billion. EPAM Systems also updated its FY 2024 guidance to 10.000-10.300 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EPAM. Susquehanna boosted their target price on EPAM Systems from $300.00 to $360.00 and gave the stock a positive rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered their target price on shares of EPAM Systems from $331.00 to $311.00 and set an overweight rating for the company in a report on Thursday, May 2nd. HSBC reduced their price target on shares of EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a research report on Wednesday, April 3rd. Needham & Company LLC lifted their target price on EPAM Systems from $295.00 to $350.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus upped their target price on EPAM Systems from $288.00 to $301.00 and gave the company a buy rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $315.60.

EPAM Systems Stock Down 0.1 %

EPAM stock opened at $249.20 on Thursday. EPAM Systems has a one year low of $197.99 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. The company has a fifty day moving average of $271.04 and a 200-day moving average of $273.78. The stock has a market capitalization of $14.45 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 10.58 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. As a group, analysts expect that EPAM Systems will post 7.7 EPS for the current year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the sale, the senior vice president now owns 12,117 shares in the company, valued at $3,707,802. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,820 shares of company stock valued at $5,101,117. 4.30% of the stock is owned by company insiders.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.