Wall Street analysts expect that EPAM Systems, Inc. (NYSE:EPAM) will report $367.12 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for EPAM Systems’ earnings, with the highest sales estimate coming in at $369.90 million and the lowest estimate coming in at $363.02 million. EPAM Systems reported sales of $298.29 million in the same quarter last year, which indicates a positive year over year growth rate of 23.1%. The business is scheduled to issue its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that EPAM Systems will report full-year sales of $367.12 million for the current fiscal year, with estimates ranging from $1.41 billion to $1.43 billion. For the next financial year, analysts forecast that the firm will report sales of $1.71 billion per share, with estimates ranging from $1.68 billion to $1.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow EPAM Systems.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342 million. EPAM Systems had a return on equity of 15.74% and a net margin of 8.71%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS.
Several research firms have commented on EPAM. Barclays PLC boosted their price objective on EPAM Systems from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, May 15th. Zacks Investment Research upgraded EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, May 5th. Monness Crespi & Hardt boosted their price objective on EPAM Systems from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Credit Suisse Group began coverage on EPAM Systems in a research note on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Berenberg Bank set a $95.00 price objective on EPAM Systems and gave the stock a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. EPAM Systems presently has a consensus rating of “Buy” and an average price target of $90.11.
In other news, insider Elaina Shekhter sold 2,875 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $80.63, for a total value of $231,811.25. Following the completion of the sale, the insider now directly owns 12,219 shares in the company, valued at $985,217.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ginger Mosier sold 26,055 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $85.65, for a total value of $2,231,610.75. Following the completion of the sale, the senior vice president now owns 12,733 shares of the company’s stock, valued at $1,090,581.45. The disclosure for this sale can be found here. Insiders sold 63,164 shares of company stock valued at $5,365,096 over the last 90 days. Company insiders own 6.17% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC bought a new stake in EPAM Systems during the second quarter worth about $119,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in EPAM Systems by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after buying an additional 166 shares during the period. Creative Planning raised its stake in EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock worth $152,000 after buying an additional 1,850 shares during the period. US Bancorp DE raised its stake in EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after buying an additional 1,974 shares during the period. Finally, Westpac Banking Corp bought a new stake in EPAM Systems during the first quarter worth about $197,000. Institutional investors and hedge funds own 97.46% of the company’s stock.
EPAM Systems (NYSE EPAM) traded down 0.6203% during trading on Thursday, reaching $81.3025. The company’s stock had a trading volume of 83,081 shares. The stock has a 50-day moving average of $84.28 and a 200 day moving average of $77.70. The firm has a market capitalization of $4.27 billion, a P/E ratio of 39.2576 and a beta of 0.99. EPAM Systems has a one year low of $54.53 and a one year high of $87.93.
EPAM Systems Company Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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