EPAM Systems (NYSE:EPAM) Releases FY24 Earnings Guidance

EPAM Systems (NYSE:EPAM - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.00-$10.30 for the period, compared to the consensus earnings per share 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.

EPAM Systems Price Performance

NYSE:EPAM traded down $67.27 during mid-day trading on Thursday, hitting $181.93. The company's stock had a trading volume of 4,982,307 shares, compared to its average volume of 549,452. 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 $10.55 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 10.58 and a beta of 1.46. EPAM Systems has a fifty-two week low of $180.28 and a fifty-two week high of $317.50. The stock has a fifty day moving average of $271.04 and a 200-day moving average of $273.78.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts forecast that EPAM Systems will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their target price on EPAM Systems from $350.00 to $300.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. Susquehanna raised their target price on shares of EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a research note on Friday, February 16th. Wedbush reiterated an outperform rating and set a $340.00 price target on shares of EPAM Systems in a research report on Wednesday, April 10th. Barclays decreased their target price on EPAM Systems from $315.00 to $265.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their target price on EPAM Systems from $288.00 to $301.00 and gave the stock a buy rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $311.27.

Insider Activity

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the firm's stock in a transaction on 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 transaction, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Sergey Yezhkov sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction 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 approximately $3,857,050.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company's stock in a transaction on 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 owns 12,117 shares of the company's stock, valued at $3,707,802. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.