EPAM Systems (NYSE:EPAM) Updates Q3 Earnings Guidance

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EPAM Systems (NYSE:EPAM) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of at least $1.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.31. The company issued revenue guidance of at least $579 million, compared to the consensus revenue estimate of $571.69 million.EPAM Systems also updated its FY 2019 guidance to $5.25 EPS.

NYSE EPAM opened at $179.70 on Thursday. EPAM Systems has a 12 month low of $104.77 and a 12 month high of $201.00. 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 firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 2.13 and a beta of 1.38. The company’s 50 day moving average is $185.80.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.33. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. The business had revenue of $521.30 million for the quarter, compared to analyst estimates of $519.11 million. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Analysts forecast that EPAM Systems will post 4.3 EPS for the current year.

EPAM has been the topic of a number of research analyst reports. Cowen raised their price objective on shares of EPAM Systems from $180.00 to $210.00 and gave the company a positive rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Wedbush reiterated an outperform rating and set a $180.00 price objective (up previously from $158.00) on shares of EPAM Systems in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered shares of EPAM Systems from a buy rating to a hold rating and set a $198.00 price objective on the stock. in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $166.40.

In other EPAM Systems news, VP Gary C. Abrahams sold 361 shares of EPAM Systems stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $177.16, for a total value of $63,954.76. Following the transaction, the vice president now owns 2,710 shares in the company, valued at $480,103.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arkadiy Dobkin sold 15,592 shares of EPAM Systems stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $172.27, for a total transaction of $2,686,033.84. Following the completion of the transaction, the chief executive officer now owns 1,443,490 shares in the company, valued at approximately $248,670,022.30. The disclosure for this sale can be found here. Insiders have sold 362,189 shares of company stock worth $63,001,372 in the last quarter. Company insiders own 5.30% 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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Earnings History and Estimates for EPAM Systems (NYSE:EPAM)

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