EPAM Systems Inc (EPAM) Posts Earnings Results, Beats Expectations By $0.07 EPS
EPAM Systems Inc (NYSE:EPAM) issued its earnings results on Thursday. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.07, Bloomberg Earnings reports. The firm had revenue of $377.50 million during the quarter, compared to analyst estimates of $368.22 million. EPAM Systems had a net margin of 10.71% and a return on equity of 17.08%. The business’s revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. EPAM Systems updated its Q4 guidance to ‘at least $0.96’ EPS.
Shares of EPAM Systems (NYSE EPAM) traded up $0.52 during trading on Friday, reaching $99.67. 392,033 shares of the company’s stock were exchanged, compared to its average volume of 295,112. The company has a market capitalization of $5,240.00, a P/E ratio of 39.19, a PEG ratio of 2.11 and a beta of 0.95. EPAM Systems has a fifty-two week low of $54.53 and a fifty-two week high of $100.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.05 and a quick ratio of 6.05.
In other EPAM Systems news, SVP Elaina Shekhter sold 500 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arkadiy Dobkin sold 25,100 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.49, for a total transaction of $2,020,299.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,000 shares of company stock valued at $24,354,345. Insiders own 6.17% of the company’s stock.
A number of analysts have recently issued reports on the stock. UBS Group AG (USA) reissued a “buy” rating and set a $105.00 target price (up from $96.00) on shares of EPAM Systems in a research note on Friday. KeyCorp reissued a “buy” rating and set a $100.00 target price on shares of EPAM Systems in a research note on Sunday, October 29th. Citigroup Inc boosted their target price on shares of EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $110.00 target price (up from $90.00) on shares of EPAM Systems in a research note on Friday. Finally, Berenberg Bank set a $95.00 target price on shares of EPAM Systems and gave the company a “buy” rating in a research note on Sunday, August 6th. Fifteen analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $97.21.
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.
Receive News & Ratings for EPAM Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EPAM Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.