Epam Sys Inc Stock Price, News & Analysis

EPAM Systems reported strong Q3 2021 results with revenues reaching $988.5 million, a 51.6% year-over-year increase. GAAP income from operations rose 49.5% to $144.1 million, while non-GAAP income increased 45.7% to $179.6 million. Diluted EPS on a GAAP basis rose 27.5% to $1.95. The company also raised its full-year revenue growth outlook to at least 40%, expecting Q4 revenues between $1.075 billion and $1.085 billion. Cash reserves increased by 7.7% to $1,425.6 million as of September 30, 2021.

EPAM Systems, Inc. (NYSE: EPAM) released its Consumer Banking Report 2021, analyzing how evolving consumer attitudes post-pandemic affect the banking industry. Surveying over 21,000 individuals across multiple regions including the U.S. and U.K., the report reveals trends like the unbundling of financial services, Gen Z's demand for financial education, and rising interest in cryptocurrencies. Key findings indicate that while traditional banks retain customers, there is a shift towards using multiple providers for diverse financial needs.

EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on November 4, 2021, at 8:00 a.m. ET, to discuss its third quarter 2021 financial results. A news release with the results will be issued before the call. Investors can access the call via a webcast on the company's Investor Relations website or by dialing in. A replay will be available post-call. EPAM, established in 1993, specializes in software engineering, product development, and digital platform solutions across over 35 countries.

World Fuel Services Corporation (NYSE: INT) has appointed Jill B. Smart to its Board of Directors. With over 33 years of experience at Accenture, where she served as the Chief Human Resources Officer, Jill brings extensive expertise in human capital management and organizational transformation. Her addition is expected to enhance the company's strategic growth objectives. Smart is also involved with the National Academy of Human Resources and serves on the board of EPAM Systems, Inc. (NYSE: EPAM). She will participate in the Compensation and Governance committees.

EPAM Systems (NYSE: EPAM) announced an expansion into Latin America with the acquisition of Colombian software firm S4N, enhancing its delivery capabilities and career opportunities for local IT professionals. With this acquisition, EPAM's LATAM workforce exceeds 1,500 employees, with plans to increase by thousands in the coming years. This strategic move aims to strengthen EPAM's position as a tech leader, leveraging the growing tech talent in the region. The partnership is expected to deliver advanced solutions and foster collaboration, aligning with EPAM's mission in digital services.

EPAM Systems reported robust second-quarter results for 2021, with revenues of $881.4 million, up 39.4% year-over-year. GAAP income from operations surged 50.2% to $125.3 million, while diluted EPS rose 70.2% to $1.94. The company raised its full-year revenue growth outlook to at least 37%, expecting acquisitions to contribute approximately 3%. For Q3, projected revenues range between $957 million and $965 million, reflecting a year-over-year growth of around 47%.

EPAM Continuum released its 2021 Consumers Unmasked Study, analyzing the spending habits of 71 Millennial and Gen-Z shoppers. The study, part of a four-part series, highlights key consumer trends including the importance of value for money, the pursuit of the best deal as a social achievement, and growing expectations for rewarding online experiences. Notably, brand ethics are becoming increasingly significant for consumers. The full quantitative survey will return in September 2021 to support the qualitative findings.