Brokerages Expect EPAM Systems Inc (EPAM) Will Announce Quarterly Sales of $395.59 Million

Brokerages expect EPAM Systems Inc (NYSE:EPAM) to report sales of $395.59 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for EPAM Systems’ earnings, with estimates ranging from $393.50 million to $399.55 million. EPAM Systems posted sales of $313.53 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.2%. The business is expected to issue its next earnings results before the market opens on Friday, February 16th.

According to Zacks, analysts expect that EPAM Systems will report full year sales of $395.59 million for the current year, with estimates ranging from $1.44 billion to $1.45 billion. For the next financial year, analysts expect that the company will post sales of $1.75 billion per share, with estimates ranging from $1.73 billion to $1.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover EPAM Systems.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS.

Several research firms recently weighed in on EPAM. Zacks Investment Research downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. UBS Group downgraded EPAM Systems from a “buy” rating to a “neutral” rating and upped their price target for the stock from $105.00 to $110.00 in a research note on Wednesday, November 29th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target (up previously from $90.00) on shares of EPAM Systems in a research note on Friday, November 3rd. Cowen restated a “buy” rating and issued a $95.00 price target on shares of EPAM Systems in a research note on Thursday, October 12th. Finally, Citigroup upped their price target on EPAM Systems from $96.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $102.87.

Shares of EPAM Systems (NYSE EPAM) opened at $111.72 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. The firm has a market capitalization of $5,774.00, a P/E ratio of 43.21, a P/E/G ratio of 1.66 and a beta of 0.93. EPAM Systems has a 52 week low of $64.67 and a 52 week high of $119.18.

In other EPAM Systems news, Director Ronald P. Vargo sold 4,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total transaction of $405,280.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Arkadiy Dobkin sold 75,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $101.64, for a total value of $7,623,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,600 shares of company stock worth $10,051,196. Company insiders own 6.17% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of EPAM Systems by 113.9% during the 4th quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock valued at $190,000 after buying an additional 944 shares during the period. Wesbanco Bank Inc. bought a new position in shares of EPAM Systems during the 4th quarter valued at $204,000. Comerica Bank bought a new position in shares of EPAM Systems during the 4th quarter valued at $225,000. Finally, Clinton Group Inc. bought a new position in shares of EPAM Systems during the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 89.27% of the company’s stock.

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About EPAM Systems

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

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