EPAM Systems, Inc. (EPAM) Updates Q4 Earnings Guidance
EPAM Systems, Inc. (NYSE:EPAM) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of ‘at least $0.96’ for the period, compared to the Thomson Reuters consensus EPS estimate of $0.94. The company issued revenue guidance of ‘at least $395 million’, compared to the consensus revenue estimate of $387.37 million.
EPAM has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a buy rating and issued a $110.00 price objective (up from $90.00) on shares of EPAM Systems in a research note on Friday. UBS AG reaffirmed a buy rating and issued a $105.00 target price (up from $96.00) on shares of EPAM Systems in a research report on Friday. Cantor Fitzgerald reaffirmed a buy rating and issued a $92.00 target price on shares of EPAM Systems in a research report on Thursday. Zacks Investment Research raised EPAM Systems from a hold rating to a buy rating and set a $102.00 target price for the company in a research report on Wednesday. Finally, KeyCorp reaffirmed a buy rating and issued a $100.00 target price on shares of EPAM Systems in a research report on Sunday, October 29th. Fifteen research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $96.86.
EPAM Systems, Inc. (EPAM) traded up $9.06 during trading on Friday, reaching $99.67. The company had a trading volume of 391,254 shares, compared to its average volume of 264,660. The firm has a market cap of $5.21 billion, a PE ratio of 39.19 and a beta of 0.95.
EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. The firm 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 16.35% and a net margin of 9.41%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. sell-side analysts expect that EPAM Systems, Inc. will post 2.55 earnings per share for the current fiscal year.
In other news, CEO Arkadiy Dobkin sold 15,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.81, for a total value of $1,362,150.00. Following the transaction, the chief executive officer now owns 1,995,851 shares of the company’s stock, valued at $181,243,229.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Elaina Shekhter sold 500 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,000 shares of company stock worth $24,354,345. Insiders own 6.17% of the company’s stock.
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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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