EPAM Systems (NYSE:EPAM) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

EPAM Systems (NYSE:EPAM) announced its earnings results on Thursday. The information technology services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06, Briefing.com reports. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The business had revenue of $588.10 million during the quarter, compared to the consensus estimate of $579.82 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. EPAM Systems updated its Q4 guidance to at least $1.43 EPS and its FY19 guidance to at least $5.35 EPS.

NYSE EPAM traded down $1.06 during trading hours on Friday, hitting $189.23. 478,569 shares of the stock were exchanged, compared to its average volume of 374,028. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 48.40, a price-to-earnings-growth ratio of 2.03 and a beta of 1.45. EPAM Systems has a 12-month low of $104.77 and a 12-month high of $201.00. The stock has a 50-day moving average of $182.84 and a 200 day moving average of $181.65. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.13.

EPAM has been the subject of several recent research reports. Barclays initiated coverage on shares of EPAM Systems in a research note on Friday, September 20th. They set an “overweight” rating and a $214.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of EPAM Systems in a research note on Thursday. Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research note on Wednesday, August 14th. Cowen increased their target price on shares of EPAM Systems from $180.00 to $210.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald increased their target price on shares of EPAM Systems from $212.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $187.20.

In related news, CMO Elaina Shekhter sold 2,800 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $195.00, for a total transaction of $546,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 10,459 shares of the company’s stock, valued at $2,039,505. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason D. Peterson sold 3,469 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $186.92, for a total transaction of $648,425.48. Following the transaction, the chief financial officer now directly owns 15,473 shares of the company’s stock, valued at $2,892,213.16. The disclosure for this sale can be found here. Corporate 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 for EPAM Systems (NYSE:EPAM)

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