Zacks: Brokerages Anticipate EPAM Systems, Inc. (NYSE:EPAM) to Post $2.22 EPS

Brokerages expect EPAM Systems, Inc. (NYSE:EPAM) to report earnings of $2.22 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for EPAM Systems’ earnings. The lowest EPS estimate is $2.19 and the highest is $2.30. EPAM Systems reported earnings of $1.65 per share during the same quarter last year, which would indicate a positive year over year growth rate of 34.5%. The company is scheduled to report its next earnings results on Thursday, November 4th.

On average, analysts expect that EPAM Systems will report full-year earnings of $8.40 per share for the current fiscal year, with EPS estimates ranging from $8.14 to $8.66. For the next year, analysts forecast that the company will post earnings of $10.55 per share, with EPS estimates ranging from $9.99 to $11.58. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for EPAM Systems.

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

A number of research firms recently weighed in on EPAM. William Blair restated a “buy” rating on shares of EPAM Systems in a research report on Tuesday, August 3rd. Morgan Stanley boosted their target price on EPAM Systems from $510.00 to $700.00 and gave the company an “overweight” rating in a research note on Monday, August 9th. Piper Sandler boosted their target price on EPAM Systems from $517.00 to $689.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Citigroup boosted their target price on EPAM Systems from $520.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. Finally, Jefferies Financial Group raised EPAM Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $455.00 to $670.00 in a research note on Tuesday, August 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $567.00.

NYSE:EPAM traded up $1.56 during mid-day trading on Wednesday, reaching $624.27. The stock had a trading volume of 2,232 shares, compared to its average volume of 299,374. The firm has a 50 day moving average price of $589.71 and a two-hundred day moving average price of $496.44. The stock 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.

In other EPAM Systems news, SVP Boris Shnayder sold 1,250 shares of the business’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $538.43, for a total value of $673,037.50. Following the sale, the senior vice president now directly owns 7,454 shares of the company’s stock, valued at $4,013,457.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason D. Peterson sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $606.50, for a total value of $1,213,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,580 shares in the company, valued at $7,023,270. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,937 shares of company stock worth $3,505,609. 4.80% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in EPAM Systems by 11.9% in the second quarter. Bank of America Corp DE now owns 374,272 shares of the information technology services provider’s stock worth $191,237,000 after acquiring an additional 39,664 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of EPAM Systems by 17.0% during the second quarter. Parametric Portfolio Associates LLC now owns 118,815 shares of the information technology services provider’s stock valued at $60,710,000 after purchasing an additional 17,249 shares in the last quarter. Comerica Bank lifted its holdings in shares of EPAM Systems by 11.8% during the second quarter. Comerica Bank now owns 3,841 shares of the information technology services provider’s stock valued at $2,380,000 after purchasing an additional 405 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of EPAM Systems during the second quarter valued at $2,477,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of EPAM Systems by 4.5% during the second quarter. Thrivent Financial for Lutherans now owns 40,640 shares of the information technology services provider’s stock valued at $20,765,000 after purchasing an additional 1,758 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors and hedge funds.

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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