Epam Sys Inc Stock Price, News & Analysis

EPAM Systems (NYSE: EPAM) has been positioned as a Leader in Gartner's Magic Quadrant™ for Custom Software Development Services, Worldwide 2024. The recognition highlights EPAM's expertise in building and modernizing solutions, particularly leveraging Generative AI technology. The company's capabilities span across modern technologies including machine learning, cloud-native solutions, composable architecture, API-first approaches, microservices, serverless computing, data-mesh, multi-experience, hyperautomation, blockchain, and IoT to deliver scalable solutions.

EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, has announced its upcoming third quarter 2024 earnings release and conference call. The company will host a conference call on Thursday, November 7, 2024, at 8:00 a.m. ET to discuss its financial results for Q3 2024. A news release containing these results will be issued prior to the call.

Investors and interested parties can access the live webcast of the conference call on the EPAM website at https://investors.epam.com. It is recommended to visit the website at least 15 minutes before the call to register for the event. For those unable to attend the live webcast, a replay will be made available in the Investor Relations section of the website.

EPAM Systems, Inc. (NYSE: EPAM) has announced an agreement to acquire First Derivative, a Northern Ireland-based managed services and consulting business for the capital markets industry. This strategic acquisition will enhance EPAM's capabilities in capital markets, banking operations, and asset servicing, strengthening its global client offerings.

First Derivative brings over 1,800 employees worldwide and major delivery capabilities in the UK, Ireland, North America, and APAC. The acquisition will add more than 100 new clients to EPAM's portfolio, offering unmatched value in technology services for the financial services industry. First Derivative specializes in helping leading financial institutions, including the top 20 global banks, stay compliant, reduce costs, and enhance efficiency through tech modernization.

The combination of EPAM's digital technology and engineering expertise with First Derivative's business services and software offerings, enhanced by Generative AI, will create valuable end-to-end capabilities for clients. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory clearances.

EPAM Systems, Inc. (NYSE: EPAM) has announced that its developers have outperformed global developer quality and productivity benchmarks set by BlueOptima, an independent organization specializing in evaluating software development practices. According to BlueOptima's Q2 2024 Global Benchmark Report, more than 76.5% of EPAM's lead developers surveyed exceeded the global average, demonstrating superior quality and efficiency across industries and regions.

The report, which utilizes data from over 700,000 developers across 30 countries, serves as a critical standard for global software development productivity and quality. It employs metrics such as Coding Effort and source code maintainability to provide insights for enterprise IT outsourcing customers, helping them benchmark developer efficiency and optimize outsourced projects.

EPAM Systems, Inc. (NYSE: EPAM) has been named a Leader in the IDC MarketScape: Worldwide Data Modernization Services 2024 Vendor Assessment. The report highlights EPAM's comprehensive data modernization services, spanning from strategy to engineering, with a focus on data and AI consulting, data products development, data on cloud, data platform engineering, and AI/ML engineering. Customers highly regard EPAM's ability to deliver across the lifecycle of data modernization services and provide resources with appropriate technical skills and certifications.

Val Tsitlik, SVP Head of Data and Analytics Practice at EPAM, emphasized the company's expertise in data and analytics, AI-integrated tools, business intelligence, and cloud platform development. EPAM's Core Data & Analytics Focus Areas include Data, Analytics & AI Strategy, Data Factory & Data Mesh, Data Governance, Data Migration, Artificial Intelligence & Machine Learning, and Business Intelligence & Self-Service.

EPAM Systems has been named a Top IT Sourcing Vendor in Switzerland for the fourth consecutive year, according to the 2024 Swiss IT Sourcing Study by Whitelane Research. The company achieved exceptional performer status in application services and general satisfaction, with excellent ratings in several categories:

• Account Management Quality: 87%
• Application services: 85%
• Service Delivery Quality: 84%
• General Satisfaction: 83%
• Digital transformation: 80%

The study evaluated over 400 unique IT sourcing relationships based on key performance indicators. EPAM's recognition underscores its commitment to delivering leading-edge digital transformation services, application services, and engineering solutions tailored to clients' evolving needs in the Swiss market.

EPAM Systems, a digital transformation and product engineering company, has been recognized with five Brandon Hall Group Human Capital Management Excellence Awards for its AI-powered learning initiatives. The company won three gold awards for:

1. Best Use of AI for Learning: Integrating generative AI into educational courses for personalized, efficient learning.
2. Best Competencies and Skill Development: The EngX™ Program, which improved engineer skills by 23% and yielded a 500% ROI in one year.
3. Best Learning Program Supporting Change Transformation: A global AI education initiative covering AI fundamentals, applications, and ethics.

EPAM also received a silver award for Best Learning Team and a bronze for Best Learning Experience Platform Implementation. These achievements highlight EPAM's commitment to fostering an education and engineering culture that supports business transformation and client value delivery in the AI era.

EPAM Systems, Inc. (NYSE: EPAM) has announced an agreement to acquire NEORIS, a global advanced technology consultancy. This acquisition will expand EPAM's delivery capabilities in Latin America and Europe and increase client value across key industries. NEORIS, headquartered in Miami, has over 4,700 professionals across major talent hubs in Latin America, Spain, and the U.S.

The acquisition is expected to strengthen EPAM's presence in LATAM and enhance its delivery capabilities across Europe, India, and APAC. It will create a market offering for clients across Latin America and in Spanish- and Portuguese-speaking markets. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of 2024.

EPAM Systems (NYSE: EPAM) reported Q2 2024 results with revenues of $1.147 billion, down 2.0% year-over-year. GAAP income from operations was 10.5% of revenues, while non-GAAP income from operations was 15.2%. GAAP diluted EPS decreased to $1.70, and non-GAAP diluted EPS fell to $2.45. For the full year, EPAM narrowed its revenue forecast to $4.590-$4.625 billion and updated GAAP diluted EPS to $7.18-$7.38 and non-GAAP diluted EPS to $10.20-$10.40. The company announced a new $500 million share repurchase program. EPAM cited a challenging macro-demand environment but highlighted its ability to adapt and optimize operations while strengthening its offerings and client value propositions.