EPAM Systems (EPAM) Posts Quarterly Earnings Results
EPAM Systems (NYSE:EPAM) posted its quarterly earnings results on Friday, February 16th. The information technology services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01, Morningstar.com reports. The business had revenue of $399.30 million during the quarter, compared to analyst estimates of $395.78 million. EPAM Systems had a net margin of 5.02% and a return on equity of 16.52%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. EPAM Systems updated its Q1 guidance to at least $0.90 EPS and its FY18 guidance to at least $4.03 EPS.
EPAM Systems (EPAM) opened at $124.90 on Tuesday. The company has a market cap of $6,498.44, a P/E ratio of 95.34, a PEG ratio of 1.94 and a beta of 0.96. EPAM Systems has a 12 month low of $71.58 and a 12 month high of $125.48. The company has a quick ratio of 5.31, a current ratio of 5.31 and a debt-to-equity ratio of 0.03.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. ValuEngine downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. KeyCorp reissued an “overweight” rating and set a $132.00 price target (up from $123.00) on shares of EPAM Systems in a report on Tuesday, February 20th. Credit Suisse Group downgraded shares of EPAM Systems from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $113.85 to $130.00 in a report on Tuesday, February 20th. Finally, Pivotal Research initiated coverage on shares of EPAM Systems in a research report on Tuesday, December 5th. They set a “buy” rating and a $120.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. EPAM Systems presently has an average rating of “Buy” and a consensus price target of $113.94.
A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in shares of EPAM Systems by 34.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 378 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of EPAM Systems by 114.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 43,348 shares of the information technology services provider’s stock valued at $3,645,000 after acquiring an additional 23,162 shares during the period. OxFORD Asset Management LLP purchased a new position in EPAM Systems in the 2nd quarter valued at $356,000. Stifel Financial Corp grew its position in EPAM Systems by 14.1% in the 2nd quarter. Stifel Financial Corp now owns 5,263 shares of the information technology services provider’s stock valued at $439,000 after buying an additional 649 shares during the last quarter. Finally, State Street Corp grew its position in EPAM Systems by 6.5% in the 2nd quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock valued at $81,460,000 after buying an additional 59,511 shares during the last quarter. 91.61% of the stock is currently owned by institutional investors.
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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