EPAM Systems (NYSE:EPAM) Updates FY 2024 Earnings Guidance

EPAM Systems (NYSE:EPAM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.000-10.300 for the period, compared to the consensus EPS estimate of 10.180. The company issued revenue guidance of $4.6 billion-$4.7 billion, compared to the consensus revenue estimate of $4.8 billion. EPAM Systems also updated its Q2 2024 guidance to 2.210-2.290 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of EPAM Systems from $369.00 to $317.00 and set an overweight rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on EPAM Systems from $331.00 to $311.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Scotiabank lowered their price objective on shares of EPAM Systems from $350.00 to $300.00 and set a sector outperform rating on the stock in a research report on Monday, April 29th. Wedbush restated an outperform rating and set a $340.00 price objective on shares of EPAM Systems in a research report on Wednesday, April 10th. Finally, Guggenheim started coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They issued a buy rating and a $350.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company 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 market cap of $14.45 billion, a P/E ratio of 35.25, a P/E/G ratio of 10.58 and a beta of 1.46. The firm’s 50 day moving average is $271.04 and its two-hundred day moving average is $273.78. EPAM Systems has a fifty-two week low of $197.99 and a fifty-two week high of $317.50. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01.

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

Insiders Place Their Bets

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock worth $5,101,117 over the last quarter. 4.30% of the stock is owned by corporate insiders.

About EPAM Systems

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.