EPAM Systems (NYSE:EPAM) Issues Q2 Earnings Guidance

EPAM Systems (NYSE:EPAM) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $2.21-$2.29 for the period, compared to the consensus EPS estimate of $2.44. The company issued revenue guidance of $1.135-$1.145 billion, compared to the consensus revenue estimate of $1.18 billion. EPAM Systems also updated its FY 2024 guidance to 10.000-10.300 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a research report on Friday, February 16th. Susquehanna boosted their target price on shares of EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a research report on Friday, February 16th. Wedbush reaffirmed an outperform rating and set a $340.00 price objective on shares of EPAM Systems in a research report on Wednesday, April 10th. Stifel Nicolaus upped their price objective on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a buy rating in a research report on Monday, February 12th. Finally, Scotiabank cut their price objective on shares of EPAM Systems from $350.00 to $300.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $315.60.

EPAM Systems Stock Performance

EPAM Systems stock opened at $249.20 on Thursday. The business has a 50 day moving average of $271.04 and a 200-day moving average of $273.78. The company has a market capitalization of $14.45 billion, a P/E ratio of 35.25, a P/E/G ratio of 10.58 and a beta of 1.46. EPAM Systems has a 1 year low of $197.99 and a 1 year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s revenue was down 6.0% on a year-over-year basis. On average, equities research analysts predict that EPAM Systems will post 7.7 earnings per share for the current year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares in the company, valued at approximately $3,857,050.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the transaction, the senior vice president now directly owns 12,117 shares in the company, valued at $3,707,802. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,820 shares of company stock worth $5,101,117. Insiders own 4.30% of the company’s stock.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.