EPAM Systems Inc (NYSE:EPAM) Expected to Announce Quarterly Sales of $580.03 Million

Equities analysts expect that EPAM Systems Inc (NYSE:EPAM) will announce sales of $580.03 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for EPAM Systems’ earnings. The lowest sales estimate is $578.90 million and the highest is $580.55 million. EPAM Systems posted sales of $468.19 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.9%. The firm is expected to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that EPAM Systems will report full year sales of $2.27 billion for the current fiscal year, with estimates ranging from $2.25 billion to $2.28 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.77 billion, with estimates ranging from $2.75 billion to $2.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for EPAM Systems.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. The business had revenue of $551.60 million for the quarter, compared to analysts’ expectations of $549.84 million. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS.

EPAM has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and issued a $180.00 price objective (up from $158.00) on shares of EPAM Systems in a research note on Wednesday, May 8th. Cantor Fitzgerald increased their price objective on shares of EPAM Systems from $187.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Wednesday, August 14th. Finally, Cowen increased 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $173.10.

NYSE EPAM traded down $5.60 during trading hours on Friday, reaching $189.90. The company’s stock had a trading volume of 195,779 shares, compared to its average volume of 413,365. The stock has a market cap of $10.60 billion, a PE ratio of 48.57, a PEG ratio of 2.24 and a beta of 1.38. EPAM Systems has a fifty-two week low of $104.77 and a fifty-two week high of $201.00. The company’s 50-day moving average is $190.34 and its two-hundred day moving average is $173.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.72 and a current ratio of 4.72.

In other news, CEO Arkadiy Dobkin sold 8,594 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $170.29, for a total transaction of $1,463,472.26. Following the transaction, the chief executive officer now directly owns 1,668,490 shares in the company, valued at approximately $284,127,162.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard Michael Mayoras sold 3,372 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $174.80, for a total transaction of $589,425.60. Following the transaction, the director now owns 10,453 shares in the company, valued at $1,827,184.40. The disclosure for this sale can be found here. Insiders have sold a total of 316,857 shares of company stock worth $55,434,082 over the last ninety days. 5.30% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in EPAM. Steward Partners Investment Advisory LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth about $31,000. Shamrock Asset Management LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth about $31,000. Flagship Harbor Advisors LLC lifted its holdings in shares of EPAM Systems by 337.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 201 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 155 shares during the period. Penserra Capital Management LLC purchased a new position in shares of EPAM Systems during the 1st quarter worth about $37,000. Finally, Captrust Financial Advisors lifted its holdings in shares of EPAM Systems by 49.0% during the 2nd quarter. Captrust Financial Advisors now owns 228 shares of the information technology services provider’s stock worth $39,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.

EPAM Systems Company Profile

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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