EPAM Systems (NYSE:EPAM) Issues FY24 Earnings Guidance

EPAM Systems (NYSE:EPAM) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $10.00-$10.30 for the period, compared to the consensus EPS estimate of $10.17. The company issued revenue guidance of $4.575-$4.675 billion, compared to the consensus revenue estimate of $4.81 billion. EPAM Systems also updated its FY 2024 guidance to 10.000-10.300 EPS.

Analyst Ratings Changes

Several analysts have commented on the company. Susquehanna lifted their price target on EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a report on Friday, February 16th. Barclays lowered their price target on EPAM Systems from $315.00 to $265.00 and set an equal weight rating for the company in a report on Friday, April 26th. Wedbush restated an outperform rating and issued a $340.00 price target on shares of EPAM Systems in a report on Wednesday, April 10th. Piper Sandler lowered their price target on EPAM Systems from $369.00 to $317.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Finally, Scotiabank decreased their target price on EPAM Systems from $350.00 to $300.00 and set a sector outperform rating for the company in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems currently has an average rating of Moderate Buy and a consensus price target of $315.60.

EPAM Systems Stock Performance

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

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Analysts forecast that EPAM Systems will post 7.7 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In other 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 sale, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at $3,707,802. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,820 shares of company stock valued at $5,101,117. 4.30% of the stock is owned by insiders.

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.