Brokerages forecast that EPAM Systems Inc (NYSE:EPAM) will post $447.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for EPAM Systems’ earnings, with the lowest sales estimate coming in at $445.64 million and the highest estimate coming in at $449.26 million. EPAM Systems posted sales of $348.98 million in the same quarter last year, which suggests a positive year over year growth rate of 28.2%. The business is scheduled to issue its next earnings report on Thursday, August 2nd.
On average, analysts expect that EPAM Systems will report full-year sales of $1.84 billion for the current year, with estimates ranging from $1.82 billion to $1.85 billion. For the next year, analysts forecast that the business will report sales of $2.24 billion per share, with estimates ranging from $2.20 billion to $2.27 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover EPAM Systems.
EPAM Systems (NYSE:EPAM) last released its earnings results on Wednesday, May 9th. The information technology services provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The company had revenue of $424.15 million during the quarter, compared to analysts’ expectations of $414.15 million. EPAM Systems had a return on equity of 17.45% and a net margin of 7.33%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS.
A number of brokerages have issued reports on EPAM. SunTrust Banks began coverage on EPAM Systems in a research note on Thursday, April 19th. They set a “buy” rating and a $130.00 price objective for the company. KeyCorp reiterated an “overweight” rating and set a $132.00 price objective (up previously from $123.00) on shares of EPAM Systems in a research note on Tuesday, February 20th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $130.00 price objective (up previously from $118.00) on shares of EPAM Systems in a research note on Friday, March 16th. Cantor Fitzgerald reiterated a “buy” rating and set a $139.00 price objective on shares of EPAM Systems in a research note on Wednesday, May 9th. Finally, Pivotal Research set a $135.00 price objective on EPAM Systems and gave the company a “buy” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $125.25.
In related news, SVP Elaina Shekhter sold 6,700 shares of EPAM Systems stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $123.98, for a total value of $830,666.00. Following the completion of the sale, the senior vice president now owns 18,186 shares of the company’s stock, valued at $2,254,700.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 3,120 shares of EPAM Systems stock in a transaction on Friday, May 11th. The stock was sold at an average price of $129.78, for a total value of $404,913.60. Following the completion of the sale, the chief financial officer now directly owns 10,627 shares of the company’s stock, valued at approximately $1,379,172.06. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in shares of EPAM Systems by 113.9% in the fourth quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock worth $190,000 after acquiring an additional 944 shares during the period. Twin Tree Management LP bought a new stake in shares of EPAM Systems in the first quarter worth $198,000. CIBC Asset Management Inc bought a new stake in shares of EPAM Systems in the first quarter worth $201,000. Alps Advisors Inc. bought a new stake in shares of EPAM Systems in the first quarter worth $207,000. Finally, Eaton Vance Management bought a new stake in shares of EPAM Systems in the first quarter worth $207,000. 90.73% of the stock is owned by institutional investors.
EPAM Systems opened at $124.85 on Wednesday, according to Marketbeat Ratings. The company has a market capitalization of $6.63 billion, a PE ratio of 43.81, a PEG ratio of 1.91 and a beta of 0.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.39 and a quick ratio of 5.39. EPAM Systems has a 52 week low of $77.96 and a 52 week high of $131.75.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.
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