Zacks: Brokerages Anticipate EPAM Systems Inc (NYSE:EPAM) Will Announce Quarterly Sales of $579.94 Million

Analysts predict that EPAM Systems Inc (NYSE:EPAM) will announce $579.94 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for EPAM Systems’ earnings. The lowest sales estimate is $578.90 million and the highest is $580.55 million. EPAM Systems reported sales of $468.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that EPAM Systems will report full-year sales of $2.27 billion for the current financial year, with estimates ranging from $2.27 billion to $2.28 billion. For the next year, analysts forecast that the firm will report sales of $2.78 billion, with estimates ranging from $2.75 billion to $2.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for EPAM Systems.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.08. EPAM Systems had a net margin of 11.98% and a return on equity of 18.90%. The firm had revenue of $551.60 million during the quarter, compared to analyst estimates of $549.84 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year.

Several equities research analysts recently issued reports on EPAM shares. Barclays started coverage on shares of EPAM Systems in a report on Friday, September 20th. They issued an “overweight” rating and a $214.00 target price for the company. Zacks Investment Research raised shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a report on Wednesday, August 14th. ValuEngine lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Cantor Fitzgerald increased their target price on shares of EPAM Systems from $187.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Cowen increased their target price on shares of EPAM Systems from $180.00 to $210.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $182.78.

EPAM Systems stock traded up $4.61 during midday trading on Thursday, hitting $188.91. The stock had a trading volume of 330,592 shares, compared to its average volume of 310,771. The firm’s fifty day moving average is $186.62 and its two-hundred day moving average is $179.39. The company has a market capitalization of $10.11 billion, a PE ratio of 48.31, a P/E/G ratio of 2.11 and a beta of 1.47. EPAM Systems has a 52-week low of $104.77 and a 52-week high of $201.00. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.13.

In other EPAM Systems news, CMO Elaina Shekhter sold 2,800 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $195.00, for a total transaction of $546,000.00. Following the completion of the sale, the chief marketing officer now directly owns 10,459 shares of the company’s stock, valued at approximately $2,039,505. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason D. Peterson sold 3,469 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $186.92, for a total transaction of $648,425.48. Following the sale, the chief financial officer now directly owns 15,473 shares of the company’s stock, valued at $2,892,213.16. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EPAM. Redhawk Wealth Advisors Inc. boosted its position in shares of EPAM Systems by 29.6% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,349 shares of the information technology services provider’s stock valued at $611,000 after acquiring an additional 764 shares during the last quarter. First Hawaiian Bank boosted its position in shares of EPAM Systems by 22.9% during the 3rd quarter. First Hawaiian Bank now owns 8,466 shares of the information technology services provider’s stock valued at $1,543,000 after acquiring an additional 1,579 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of EPAM Systems by 4.1% during the 2nd quarter. Macquarie Group Ltd. now owns 367,945 shares of the information technology services provider’s stock valued at $63,691,000 after acquiring an additional 14,568 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $1,816,000. Finally, Toronto Dominion Bank bought a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $1,431,000. 90.53% of the stock is owned by institutional investors and hedge funds.

About EPAM Systems

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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