Epam Sys Inc Stock Price, News & Analysis

EPAM Systems, Inc. (NYSE: EPAM) announced its agreement to acquire PolSource, a Salesforce Platinum Partner with over 350 Salesforce specialists, to enhance its Salesforce capabilities and facilitate market expansion. The acquisition is expected to close in EPAM's fiscal second quarter, subject to regulatory approvals. PolSource is renowned for delivering digital transformation solutions across various industries and holds multiple Salesforce certifications, which will strengthen EPAM's position in the market.

EPAM Systems reported strong financial results for Q4 and full year 2020, with revenues of $723.5 million, a 14.3% increase year-over-year. GAAP income from operations rose by 32.2% to $112 million, while diluted EPS reached $1.46, up 13.2%. For the full year, revenues reached $2.66 billion, a 15.9% increase. The company anticipates at least 23% revenue growth for 2021 and projects GAAP diluted EPS between $6.65 and $6.86. As of Dec 31, 2020, cash and equivalents totaled $1.32 billion, marking a 41.1% increase from the previous year.

EPAM Systems (NYSE: EPAM) announced the launch of an Industry Advisory Board on January 28, 2021, aimed at enhancing its digital transformation services. The inaugural team comprises industry leaders such as Dr. Mark Boxer, Norm Judah, and Andy Walter, who bring extensive experience in sectors like healthcare, cloud transformation, and consumer goods. This board will be pivotal in navigating technology changes and fostering strategic relationships. Future expansions will include members from various verticals like Insurance and Financial Services, contributing to EPAM's commitment to deliver value to its customers.

EPAM Systems, Inc. (NYSE: EPAM) has been named a Challenger in Gartner's 2020 Magic Quadrant for Application Testing Services. This evaluation reflects the company's ability to execute and completeness of vision, highlighting its systematic approach to quality improvement in application testing. EPAM focuses on cost-effective continuous quality and has invested in next-gen testing services, enhancing offerings like testing-as-a-service, especially for Agile projects. The report assessed 20 providers, guiding leaders in vendor selection.

The MACH Alliance has announced its inaugural MACHathon, scheduled from January 22 to 29, 2021, aimed at leveraging MACH technology in ecommerce solutions. The event encourages participants to develop innovative projects that help society overcome challenges posed by the COVID-19 pandemic, with a theme of "Getting Unstuck". Teams will utilize microservices-based applications and receive mentorship from experts. Awards will be given across various categories, including Maturity, Usability, and the 1st Annual MACHnificent award. Founding members include EPAM, among others.

EPAM Systems has announced a conference call scheduled for February 18, 2021, at 8:00 a.m. ET to discuss its fourth quarter 2020 financial results. A press release with these results will be issued prior to the call. Investors can join the call through a webcast on the company's Investor Relations page or by phone using conference ID: 4899490. A replay will be accessible from February 18 until February 25. EPAM is recognized for its innovative software engineering solutions across more than 35 countries.

On January 12, 2021, EPAM announced a free webinar titled "Trust Over Tools" designed for U.S. banks. Set for January 26, 2021, the session will discuss enhancing customer attraction and retention in the digital banking era. Key topics include the role of trust in consumer decisions, the effectiveness of digital channels versus physical branches, and the future of traditional banking apps. Speakers include prominent figures from EPAM and Wells Fargo. The webinar aims to address the rapid digital transformation in banking accelerated by the pandemic.

EPAM Systems (NYSE: EPAM) has been recognized in Built In's 2021 Best Places to Work Awards, securing awards in New York City and San Francisco for being one of the 'Best Places to Work' and also for 'Companies with the Best Benefits.' This accolade underscores EPAM's dedication to employee welfare, including competitive compensation, health benefits, and career development opportunities. Built In's recognition is based on an algorithm evaluating compensation, benefits, and cultural programs, particularly emphasizing diversity, equity, and inclusion initiatives and remote work opportunities.