EPAM Systems (NYSE:EPAM) Issues 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.

Analyst Ratings Changes

EPAM has been the topic of a number of recent analyst reports. Susquehanna decreased their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Jefferies Financial Group lifted their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup lifted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Price Performance

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

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

EPAM Systems declared that its board has authorized a stock buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.