EPAM Systems (EPAM) Announces Earnings Results, Beats Expectations By $0.01 EPS
EPAM Systems (NYSE:EPAM) issued its quarterly earnings data on Friday. The information technology services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01, Morningstar.com reports. The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $395.78 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. EPAM Systems’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. EPAM Systems updated its Q1 guidance to at least $0.90 EPS and its FY18 guidance to at least $4.03 EPS.
EPAM Systems (NYSE EPAM) traded up $2.72 during trading hours on Friday, reaching $114.95. 416,682 shares of the company traded hands, compared to its average volume of 338,081. EPAM Systems has a 52-week low of $69.62 and a 52-week high of $119.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. The firm has a market capitalization of $6,070.85, a price-to-earnings ratio of 87.75, a PEG ratio of 1.74 and a beta of 0.93.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Pivotal Research set a $135.00 price target on shares of EPAM Systems and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus restated a “buy” rating on shares of EPAM Systems in a report on Friday. UBS Group lowered shares of EPAM Systems from a “buy” rating to a “neutral” rating and upped their price objective for the company from $105.00 to $110.00 in a research report on Wednesday, November 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $90.00) on shares of EPAM Systems in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $103.87.
Several hedge funds and other institutional investors have recently bought and sold shares of EPAM. BlackRock Inc. grew its stake in shares of EPAM Systems by 8.3% during the fourth quarter. BlackRock Inc. now owns 3,344,974 shares of the information technology services provider’s stock valued at $359,349,000 after purchasing an additional 256,217 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in EPAM Systems by 3.9% in the third quarter. JPMorgan Chase & Co. now owns 3,148,004 shares of the information technology services provider’s stock valued at $268,840,000 after acquiring an additional 119,230 shares during the last quarter. State Street Corp boosted its stake in EPAM Systems by 6.5% in the second quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock valued at $81,460,000 after acquiring an additional 59,511 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in EPAM Systems by 87.4% in the third quarter. Canada Pension Plan Investment Board now owns 926,537 shares of the information technology services provider’s stock valued at $81,470,000 after acquiring an additional 432,237 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in EPAM Systems by 1.5% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 625,624 shares of the information technology services provider’s stock valued at $55,011,000 after acquiring an additional 8,999 shares during the last quarter. 87.65% of the stock is owned by institutional investors.
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EPAM Systems Company Profile
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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