EPAM Systems (NYSE:EPAM) Announces Earnings Results

EPAM Systems (NYSE:EPAMGet Rating) posted its quarterly earnings results on Thursday. The information technology services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.67, Briefing.com reports. EPAM Systems had a net margin of 11.14% and a return on equity of 21.92%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The business’s revenue for the quarter was up 35.5% on a year-over-year basis. EPAM Systems updated its Q3 guidance to at least $2.48 EPS and its Q3 2022 guidance to $2.48- EPS.

EPAM Systems Stock Performance

EPAM traded up $12.00 during trading on Friday, hitting $427.39. The company’s stock had a trading volume of 854,926 shares, compared to its average volume of 982,032. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. EPAM Systems has a one year low of $168.59 and a one year high of $725.40. The firm has a market cap of $24.43 billion, a PE ratio of 54.72, a P/E/G ratio of 2.97 and a beta of 1.77. The business’s 50 day simple moving average is $321.04 and its 200-day simple moving average is $328.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPAM. Susquehanna Bancshares upgraded shares of EPAM Systems to a “positive” rating in a report on Monday, May 16th. Bank of America upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $312.00 to $400.00 in a report on Friday, May 6th. Cowen increased their price target on shares of EPAM Systems from $400.00 to $440.00 in a report on Friday. Piper Sandler increased their price target on shares of EPAM Systems from $381.00 to $460.00 and gave the company an “overweight” rating in a report on Friday. Finally, Barclays increased their price target on shares of EPAM Systems from $350.00 to $410.00 in a report on Monday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus price target of $444.62.

Insiders Place Their Bets

In other EPAM Systems news, CMO Elaina Shekhter sold 100 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $347.10, for a total value of $34,710.00. Following the transaction, the chief marketing officer now directly owns 7,671 shares in the company, valued at $2,662,604.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Elaina Shekhter sold 100 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $347.10, for a total transaction of $34,710.00. Following the sale, the chief marketing officer now directly owns 7,671 shares in the company, valued at approximately $2,662,604.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason D. Peterson sold 400 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $335.00, for a total transaction of $134,000.00. Following the sale, the chief financial officer now owns 11,762 shares in the company, valued at $3,940,270. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,500 shares of company stock worth $493,710. Company insiders own 4.10% of the company’s stock.

Institutional Trading of EPAM Systems

Several institutional investors and hedge funds have recently modified their holdings of EPAM. Covestor Ltd raised its position in shares of EPAM Systems by 134.4% during the 1st quarter. Covestor Ltd now owns 150 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 86 shares during the period. Baader Bank INC purchased a new position in EPAM Systems during the first quarter valued at $222,000. Cetera Advisor Networks LLC grew its stake in EPAM Systems by 36.0% during the first quarter. Cetera Advisor Networks LLC now owns 842 shares of the information technology services provider’s stock valued at $250,000 after acquiring an additional 223 shares in the last quarter. KB Financial Partners LLC grew its stake in EPAM Systems by 63.7% during the first quarter. KB Financial Partners LLC now owns 889 shares of the information technology services provider’s stock valued at $264,000 after acquiring an additional 346 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in EPAM Systems by 14.4% during the first quarter. Private Advisor Group LLC now owns 1,034 shares of the information technology services provider’s stock valued at $307,000 after acquiring an additional 130 shares in the last quarter. 95.24% of the stock is currently owned by institutional investors.

EPAM Systems Company Profile

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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, 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 for EPAM Systems (NYSE:EPAM)

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