EPAM Systems (NYSE:EPAM) Releases Q2 2024 Earnings Guidance

EPAM Systems (NYSE:EPAM) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.210-2.290 for the period, compared to the consensus earnings per share estimate of 2.440. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.2 billion. EPAM Systems also updated its FY 2024 guidance to 10.000-10.300 EPS.

EPAM Systems Stock Performance

Shares of NYSE:EPAM opened at $249.20 on Thursday. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 10.58 and a beta of 1.46. EPAM Systems has a 12 month low of $197.99 and a 12 month high of $317.50. The firm’s 50-day moving average is $271.04 and its 200 day moving average is $273.78.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. Research analysts predict that EPAM Systems will post 7.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EPAM. JPMorgan Chase & Co. dropped their target price on shares of EPAM Systems from $331.00 to $311.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Citigroup dropped their price objective on EPAM Systems from $325.00 to $275.00 and set a neutral rating on the stock in a research note on Monday, April 22nd. Mizuho lifted their target price on EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a research report on Friday, February 16th. HSBC lowered their target price on EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a report on Wednesday, April 3rd. Finally, Morgan Stanley upgraded EPAM Systems from an underweight rating to an equal weight rating and cut their price target for the company from $236.00 to $225.00 in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $315.60.

Insider Activity

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the transaction, the senior vice president now owns 12,117 shares in the company, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,820 shares of company stock worth $5,101,117. Corporate insiders own 4.30% of the company’s stock.

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.