Zacks: Brokerages Anticipate EPAM Systems, Inc. (EPAM) Will Announce Quarterly Sales of $367.94 Million
Wall Street brokerages forecast that EPAM Systems, Inc. (NYSE:EPAM) will post $367.94 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for EPAM Systems’ earnings, with the highest sales estimate coming in at $369.90 million and the lowest estimate coming in at $367.20 million. EPAM Systems reported sales of $298.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23.3%. The business is expected to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that EPAM Systems will report full-year sales of $367.94 million for the current financial year, with estimates ranging from $1.41 billion to $1.43 billion. For the next financial year, analysts anticipate that the business will report sales of $1.71 billion per share, with estimates ranging from $1.68 billion to $1.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for EPAM Systems.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The company had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342.00 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. EPAM Systems’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS.
Several equities research analysts have recently weighed in on EPAM shares. Zacks Investment Research raised EPAM Systems from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday. BidaskClub upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp upped their target price on shares of EPAM Systems from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Bank of America Corporation assumed coverage on EPAM Systems in a research note on Tuesday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Berenberg Bank set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a report on Sunday, August 6th. Fourteen equities research analysts have rated the stock with a buy rating, EPAM Systems presently has a consensus rating of “Buy” and a consensus target price of $92.23.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total value of $2,404,200.00. Following the sale, the chief executive officer now directly owns 2,110,851 shares in the company, valued at $169,163,599.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 212,500 shares of company stock valued at $17,544,745. Company insiders own 6.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EPAM. Vanguard Group Inc. grew its stake in EPAM Systems by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,919,515 shares of the information technology services provider’s stock valued at $329,591,000 after acquiring an additional 105,644 shares in the last quarter. FMR LLC raised its position in EPAM Systems by 19.4% during the first quarter. FMR LLC now owns 3,675,177 shares of the information technology services provider’s stock valued at $277,549,000 after acquiring an additional 598,179 shares in the last quarter. Morgan Stanley raised its position in EPAM Systems by 21.0% during the first quarter. Morgan Stanley now owns 3,461,697 shares of the information technology services provider’s stock valued at $261,428,000 after acquiring an additional 600,775 shares in the last quarter. JPMorgan Chase & Co. raised its position in EPAM Systems by 6.4% during the second quarter. JPMorgan Chase & Co. now owns 3,028,774 shares of the information technology services provider’s stock valued at $254,691,000 after acquiring an additional 183,111 shares in the last quarter. Finally, BlackRock Inc. raised its position in EPAM Systems by 0.5% during the second quarter. BlackRock Inc. now owns 3,010,949 shares of the information technology services provider’s stock valued at $253,188,000 after acquiring an additional 15,882 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.
Shares of EPAM Systems (NYSE:EPAM) opened at 89.10 on Wednesday. EPAM Systems has a 12 month low of $54.53 and a 12 month high of $89.79. The firm’s 50-day moving average price is $83.11 and its 200-day moving average price is $81.41. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 43.02 and a beta of 0.99.
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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