Welcome to our dedicated page for EPAM SYSTEMS news (Ticker: EPAM), a resource for investors and traders seeking the latest updates and insights on EPAM SYSTEMS stock.
EPAM Systems, Inc. reports news on its global digital and AI transformation services business, including custom software, product and platform engineering, integrated consulting, and enterprise technology delivery. Company updates commonly cover quarterly results, revenue outlook, operating margins, earnings measures, and capital returns through share repurchases.
EPAM news also includes AI-native service initiatives, enterprise partnerships, ServiceNow development capabilities, Microsoft-aligned security services, and recognition in European IT sourcing studies. These developments reflect the company’s focus on engineering-led transformation work for large enterprises and other technology-driven clients.
EPAM Systems, a leader in digital transformation, reported strong financial results for Q4 2021 and the full year, despite global challenges. Q4 revenue reached $1.107 billion, up 53.1% year-over-year, with GAAP EPS of $2.40, a 64.4% increase. For the full year, revenue rose to $3.758 billion, a 41.3% increase, with GAAP EPS of $8.15, a 45.5% rise. Looking ahead, EPAM projects 2022 revenue of at least $5.150 billion, representing a growth rate of 37%, including expected contributions from acquisitions.
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EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on February 17, 2022, at 8:00 a.m. ET, to discuss its fourth quarter 2021 financial results. A news release with these results will be provided prior to the call. Investors can access the call via the company's Investor Relations website or by dialing designated numbers with the conference ID: 9155729. A replay will be available after the call until February 24, 2022. EPAM has been recognized for its digital transformation services, ranking among the top IT service companies.
EPAM Systems (NYSE: EPAM) has been recognized in the 2022 Best Places to Work Awards by Built In for its commitment to entrepreneurial growth and employee well-being, receiving honors in New York City and San Francisco. This marks the second consecutive year EPAM has earned this accolade, reflecting its focus on competitive compensation, health benefits, and career advancement opportunities. Built In's awards assess a range of factors, including flexible work arrangements and diversity initiatives. EPAM, a leader in digital transformation, continues to innovate and support its global workforce.
EPAM Continuum, a division of EPAM Systems, has formed a strategic digital partnership with INEOS Automotive to launch the Grenadier, a new 4X4 vehicle. Under this collaboration, EPAM will manage the digital strategy and customer engagement for the vehicle's launch. This includes creating a comprehensive digital experience through a dedicated website and a vehicle configurator. The partnership aims to build excitement ahead of the Grenadier's launch in 2022, with a successful 'Reservation Day' event generating significant interest and exceeding target reservations.
EPAM Systems has announced the acquisition of Optiva Media to enhance its digital transformation capabilities in the media sector. This move aims to leverage Optiva's expertise in product development and digital services, allowing EPAM to offer comprehensive solutions for media and entertainment companies. With over 18 years of experience, Optiva Media has a solid track record, including launching the first European video-on-demand system. The acquisition strengthens EPAM's position in Western Europe and Latin America, providing a competitive edge in this rapidly evolving market.
EPAM Systems, Inc. (NYSE: EPAM) has been awarded the 2021 Acquia Engage Award for its collaboration with Mars, Incorporated, exemplifying excellence in digital transformation. This award recognizes high-impact digital experiences built using the Acquia Open Digital Experience Platform. EPAM and Mars created a 'starter kit' for all Mars brands, enabling a unified digital presence and enhancing user experiences. Key benefits include a 50% reduction in web development time and a 40% decrease in web maintenance costs, showcasing their commitment to delivering scalable digital solutions.
EPAM Systems has launched its new Digital Clinical Trials (DCT) platform, powered by Microsoft cloud services. This patient-centric solution aims to enhance the efficiency of hybrid clinical trials by streamlining patient recruitment, improving data integration, and boosting patient engagement. Key features include remote patient enrollment, an omnichannel communication system, and tools for real-time patient outcome updates. EPAM's initiative reflects a shift towards decentralized trials, making clinical studies more accessible and quicker.
EPAM Systems (NYSE: EPAM) has announced the acquisition of Emakina Group, a prominent digital agency based in Belgium, enhancing its digital experience practice. Emakina, with over 1,100 employees and a presence in 18 countries, provides services such as consulting, marketing, and data analytics. This acquisition is expected to strengthen EPAM's capabilities in strategy and creativity. Following the acquisition, EPAM will own 100% of Emakina after the squeeze-out period, set to conclude on November 30, 2021.