EPAM Systems (NYSE:EPAM) issued its quarterly earnings data on Thursday. The information technology services provider reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.33, MarketWatch Earnings reports. EPAM Systems had a return on equity of 18.55% and a net margin of 7.68%. The business had revenue of $468.20 million for the quarter, compared to the consensus estimate of $466.97 million. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year.
EPAM traded down $0.53 during midday trading on Friday, reaching $127.07. The company’s stock had a trading volume of 3,009 shares, compared to its average volume of 346,750. The firm has a market capitalization of $6.09 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 0.02. EPAM Systems has a twelve month low of $92.55 and a twelve month high of $144.19.
A number of brokerages recently weighed in on EPAM. KeyCorp cut their price objective on EPAM Systems from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup raised their price objective on EPAM Systems from $142.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Bank of America downgraded EPAM Systems from a “buy” rating to a “neutral” rating and raised their price objective for the company from $134.00 to $147.00 in a research note on Tuesday, September 4th. Wedbush raised their price objective on EPAM Systems from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research downgraded EPAM Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $137.87.
In other EPAM Systems news, EVP Balazs Fejes sold 15,133 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $141.33, for a total value of $2,138,746.89. Following the sale, the executive vice president now owns 28,458 shares of the company’s stock, valued at approximately $4,021,969.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Viktar Dvorkin sold 20,000 shares of EPAM Systems stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $142.98, for a total value of $2,859,600.00. Following the sale, the senior vice president now directly owns 29,258 shares in the company, valued at approximately $4,183,308.84. The disclosure for this sale can be found here. Insiders sold a total of 41,680 shares of company stock worth $5,876,795 in the last ninety days. Insiders own 5.30% of the company’s stock.
Several large investors have recently made changes to their positions in EPAM. Dimensional Fund Advisors LP grew its holdings in shares of EPAM Systems by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 313,622 shares of the information technology services provider’s stock worth $35,916,000 after purchasing an additional 7,487 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of EPAM Systems by 27.3% during the 1st quarter. Jane Street Group LLC now owns 3,886 shares of the information technology services provider’s stock worth $445,000 after purchasing an additional 833 shares in the last quarter. LPL Financial LLC grew its holdings in shares of EPAM Systems by 54.9% during the 1st quarter. LPL Financial LLC now owns 3,769 shares of the information technology services provider’s stock worth $429,000 after purchasing an additional 1,336 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of EPAM Systems during the 1st quarter worth approximately $10,516,000. Finally, Royal Bank of Canada grew its holdings in shares of EPAM Systems by 281.2% during the 1st quarter. Royal Bank of Canada now owns 118,961 shares of the information technology services provider’s stock worth $13,622,000 after purchasing an additional 87,756 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors.
EPAM Systems Company Profile
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.
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