EPAM Systems (NYSE:EPAM) Releases Q4 Earnings Guidance

EPAM Systems (NYSE:EPAM) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.70-2.78 for the period, compared to the consensus earnings per share estimate of $2.70. The company issued revenue guidance of $1.205-1.215 billion, compared to the consensus revenue estimate of $1.15 billion. EPAM Systems also updated its FY 2024 guidance to 10.730-10.810 EPS.

EPAM Systems Trading Up 15.5 %

EPAM traded up $31.50 during trading on Thursday, hitting $234.19. 251,914 shares of the company’s stock were exchanged, compared to its average volume of 614,737. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50. The stock has a 50 day moving average price of $197.65 and a 200 day moving average price of $198.13. The firm has a market cap of $13.33 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 4.16 and a beta of 1.46. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts expect that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its board has authorized a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

EPAM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective for the company. Susquehanna lowered their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group upped their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Piper Sandler reiterated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research note on Tuesday, October 8th. Finally, Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.