Epam Sys Inc Stock Price, News & Analysis

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.

EPAM Systems, Inc. (NYSE: EPAM) has been honored with two 2021 Sitecore Experience Awards: the Excellence in Product Expertise for the Americas and Excellence in Solution Delivery for EMEA. These awards showcase EPAM's commitment to mastering Sitecore products and delivering top-notch solutions for clients. A Platinum Sitecore Partner, EPAM boasts over 150 certifications and a team of more than 1,000 experts, reflecting its strength in digital marketing solutions. The recognition underscores EPAM's global leadership and positions the company for significant growth.

EPAM Systems, a leader in digital platform engineering, has acquired CORE SE, a professional services provider specializing in IT strategy and technology transformations. This acquisition, announced on July 27, 2021, aims to enhance EPAM's presence in the DACH region, aligning with its strategy to support Western European clients in their technology transformation initiatives. The acquisition is expected to create synergies, leveraging CORE's expertise in critical IT transformations across various industries.

Contentstack, EPAM Systems, and Uniform have successfully developed a personalization proof of concept in under 90 days using MACH technology. This project showcases how businesses can leverage microservices, API-first, and cloud-native SaaS solutions for creating a fully personalized travel customer journey. The initiative aims to simplify the personalization process, reducing risks for marketers by shifting from rules-based solutions. The demonstration will be presented at the Digital Experience Summit on July 29, 2021, highlighting the potential for rapid implementation of personalized experiences.

EPAM Systems has announced a conference call scheduled for August 5, 2021, at 8:00 a.m. ET to discuss its Q2 2021 financial results. A news release with the results will be issued prior to the call. Interested parties can access the call via the Company’s Investor Relations webpage or by phone. A replay will be available from August 5 at 11:00 a.m. ET until August 12 at 11:59 p.m. ET. EPAM has continued to grow since its founding in 1993.

EPAM Systems has announced the acquisition of the Netherlands-based consultancy Just-BI, enhancing its data and analytics capabilities. This move aims to strengthen EPAM's service offerings in the SAP ecosystem and expand its advisory capabilities across Europe and APAC. The acquisition will facilitate better consultation for clients in sectors like Consumer-Packaged Goods, Retail, and Energy. With over 18 years of experience, Just-BI specializes in end-to-end BI services, further aligning with EPAM's focus on digital transformation and data-driven decision-making.

EPAM Systems reported strong first-quarter 2021 results, with revenues reaching $780.8 million, a 19.9% increase year-over-year. GAAP income from operations rose to $107.3 million, a 22.6% increase. Non-GAAP diluted EPS increased by 26.6% to $1.81. Cash flow from operations was $12.8 million, down from $63.3 million in Q1 2020. For 2021, EPAM anticipates revenue growth of at least 29% and GAAP diluted EPS between $7.09 and $7.31. The second quarter revenue forecast is between $853 million and $861 million, indicating a year-over-year growth rate of approximately 35.5%.

EPAM announced the acquisition of White-Hat Ltd., a cybersecurity firm, enhancing its cybersecurity portfolio and expanding EMEA delivery capabilities. This strategic move aligns with increasing demand for cybersecurity as organizations modernize their digital infrastructure. White-Hat's methodologies and incident response expertise will boost EPAM's capabilities in the Zero Trust Architecture. The acquisition seeks to strengthen EPAM's position as a leader in cybersecurity, addressing evolving threats in the digital landscape.