$395.58 Million in Sales Expected for EPAM Systems, Inc. (EPAM) This Quarter
Brokerages expect EPAM Systems, Inc. (NYSE:EPAM) to post sales of $395.58 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for EPAM Systems’ earnings. The lowest sales estimate is $393.80 million and the highest is $398.20 million. EPAM Systems reported sales of $313.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.2%. The firm is expected to report its next quarterly earnings results on Thursday, February 15th.
According to Zacks, analysts expect that EPAM Systems will report full year sales of $395.58 million for the current fiscal year. For the next year, analysts forecast that the business will report sales of $1.75 billion per share, with estimates ranging from $1.73 billion to $1.78 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for EPAM Systems.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS.
EPAM has been the subject of a number of research analyst reports. BidaskClub lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG boosted their target price on EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Barclays PLC decreased their price objective on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Fifteen equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $98.29.
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In other news, SVP Elaina Shekhter sold 1,261 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $95.00, for a total value of $119,795.00. Following the transaction, the senior vice president now owns 10,458 shares of the company’s stock, valued at $993,510. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 10,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,985,851 shares in the company, valued at approximately $188,655,845. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,554 shares of company stock worth $32,791,034. Company insiders own 6.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EPAM. BlackRock Inc. increased its holdings in shares of EPAM Systems by 76,013.5% in the first quarter. BlackRock Inc. now owns 2,995,067 shares of the information technology services provider’s stock worth $226,186,000 after purchasing an additional 2,991,132 shares during the period. Canada Pension Plan Investment Board increased its stake in EPAM Systems by 87.4% in the third quarter. Canada Pension Plan Investment Board now owns 926,537 shares of the information technology services provider’s stock valued at $81,470,000 after acquiring an additional 432,237 shares during the last quarter. Macquarie Group Ltd. bought a new position in EPAM Systems in the second quarter valued at $27,404,000. Mesirow Financial Investment Management Equity Management bought a new position in EPAM Systems in the second quarter valued at $18,578,000. Finally, BARING ASSET MANAGEMENT Ltd increased its stake in EPAM Systems by 105.7% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 406,329 shares of the information technology services provider’s stock valued at $35,728,000 after acquiring an additional 208,825 shares during the last quarter. 88.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EPAM Systems (NYSE:EPAM) traded up $0.46 during trading hours on Friday, hitting $102.80. The stock had a trading volume of 163,600 shares, compared to its average volume of 290,346. The firm has a market cap of $5,429.18, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 6.05. EPAM Systems has a 12 month low of $60.64 and a 12 month high of $103.49.
About EPAM Systems
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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