EPAM Systems, Inc. (NYSE:EPAM) Expected to Post Quarterly Sales of $966.34 Million

Equities analysts forecast that EPAM Systems, Inc. (NYSE:EPAM) will announce sales of $966.34 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for EPAM Systems’ earnings, with the highest sales estimate coming in at $983.60 million and the lowest estimate coming in at $961.10 million. EPAM Systems reported sales of $652.24 million during the same quarter last year, which indicates a positive year-over-year growth rate of 48.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that EPAM Systems will report full-year sales of $3.66 billion for the current fiscal year, with estimates ranging from $3.65 billion to $3.70 billion. For the next financial year, analysts expect that the company will post sales of $4.67 billion, with estimates ranging from $4.46 billion to $4.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow EPAM Systems.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.11. The business had revenue of $881.40 million during the quarter, compared to the consensus estimate of $861.36 million. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. EPAM Systems’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS.

A number of brokerages have weighed in on EPAM. Piper Sandler increased their price target on shares of EPAM Systems from $517.00 to $689.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Morgan Stanley increased their price target on shares of EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, August 9th. Citigroup increased their price target on shares of EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Jefferies Financial Group raised shares of EPAM Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $455.00 to $670.00 in a report on Tuesday, August 3rd. Finally, Barclays raised their price objective on shares of EPAM Systems from $521.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, August 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $567.00.

In other news, Director Karl Robb sold 2,044 shares of EPAM Systems stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $601.09, for a total transaction of $1,228,627.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Boris Shnayder sold 1,250 shares of EPAM Systems stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $538.43, for a total transaction of $673,037.50. Following the sale, the senior vice president now owns 7,454 shares of the company’s stock, valued at approximately $4,013,457.22. The disclosure for this sale can be found here. Insiders have sold a total of 5,937 shares of company stock valued at $3,505,609 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. MAI Capital Management boosted its stake in EPAM Systems by 1.4% during the 1st quarter. MAI Capital Management now owns 104,853 shares of the information technology services provider’s stock worth $41,594,000 after acquiring an additional 1,471 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in EPAM Systems by 134.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,899 shares of the information technology services provider’s stock worth $30,108,000 after acquiring an additional 43,590 shares during the last quarter. Teza Capital Management LLC bought a new position in EPAM Systems during the 2nd quarter worth approximately $1,071,000. TD Asset Management Inc. boosted its stake in EPAM Systems by 7.8% during the 1st quarter. TD Asset Management Inc. now owns 13,680 shares of the information technology services provider’s stock worth $5,427,000 after acquiring an additional 995 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in EPAM Systems by 162.5% during the 1st quarter. Korea Investment CORP now owns 35,700 shares of the information technology services provider’s stock worth $14,162,000 after acquiring an additional 22,100 shares during the last quarter. Institutional investors own 91.55% of the company’s stock.

Shares of NYSE EPAM traded up $1.56 during trading hours on Friday, hitting $624.27. 2,232 shares of the stock were exchanged, compared to its average volume of 299,374. The company’s 50 day moving average is $589.71 and its 200 day moving average is $496.44. The firm has a market capitalization of $35.35 billion, a P/E ratio of 91.71, a P/E/G ratio of 3.32 and a beta of 1.36. EPAM Systems has a one year low of $305.83 and a one year high of $648.72.

EPAM Systems Company Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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Earnings History and Estimates for EPAM Systems (NYSE:EPAM)

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