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EPAM SYSTEMS, INC. - EPAM STOCK NEWS

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EPAM Systems, Inc. (NYSE: EPAM) is a global leader in software product development, digital platform engineering, and technology consulting based in the United States. Established in 1993, EPAM has built a reputation for excellence, recognized by independent research agencies and industry leaders globally. The company operates in over 20 countries across North America, Europe, Asia, and Australia, delivering innovative solutions to clients worldwide.

EPAM's core offerings include digital and cloud engineering, AI-enabled transformation services, and comprehensive business and experience consulting. The company's largest market is North America, accounting for approximately 60% of its revenues. EPAM has expertise in emerging technologies like artificial intelligence, virtual reality, and robotics, helping businesses stay ahead in a rapidly evolving tech landscape.

Recent achievements highlight EPAM's strong market position. The company was added to the S&P 500 and the Forbes Global 2000 in 2021 and has been recognized by Glassdoor as a Best Workplace in 2023 and 2024. EPAM's multidisciplinary teams, comprising consultants, architects, designers, and engineers, serve clients across six continents, ensuring local engagement and global delivery.

EPAM continues to expand its capabilities through strategic acquisitions and partnerships. Notably, the acquisition of Vates S.A. in 2024 bolstered EPAM's software development portfolio and enhanced its delivery capabilities in Latin America. Additionally, EPAM has been honored with several industry awards, including the 2024 Google Cloud Talent Development Partner of the Year Award in North America, reflecting its commitment to innovation and excellence in talent development.

Financially, EPAM has demonstrated resilience and adaptability, navigating volatile market conditions and refining its growth strategies. The company focuses on harmonizing delivery quality, optimizing cost-effectiveness, and leveraging its extensive experience in data, engineering, and consulting to capitalize on opportunities in the AI space. EPAM supplements its GAAP results with non-GAAP financial measures to provide a clearer picture of underlying business trends and performance.

EPAM's latest project, OSPulse™, an enterprise-level analytics dashboard, showcases the company's continuous innovation. OSPulse™ helps organizations monitor open source engagement, offering valuable insights for strategic decision-making. EPAM's commitment to the open source community is reflected in its extensive contributions and initiatives like the Open Source Contributor Index (OSCI), furthering technological innovation and community engagement.

For more information about EPAM Systems, visit www.epam.com.

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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.

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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.

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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.

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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.

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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.

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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.

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EPAM Systems (NYSE: EPAM) will announce its second quarter 2024 financial results on August 8, 2024. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. The financial report will be available prior to the conference call. Interested parties can access the live webcast through the EPAM website, with a replay available post-event for those unable to attend the live session.

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EPAM Systems, a digital transformation and product engineering leader, announced the acquisition of Odysseus Data Services. Odysseus specializes in health data analytics, focusing on Real-World Evidence and Real-World Data. This acquisition aims to enhance EPAM's capabilities in the life sciences sector through advanced analytics, AI, and data methods. Gregory Klebanov, CEO of Odysseus, emphasized the synergy between the two companies, highlighting EPAM's expertise in AI and cloud infrastructure. The collaboration is expected to improve life sciences research, clinical studies, and post-market surveillance.

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EPAM Systems has been recognized as a top IT sourcing vendor in the UK, achieving high client satisfaction scores in the 2024 UK IT Sourcing Study by Whitelane Research. Over 300 CIOs from the top IT spending organizations in the UK evaluated nearly 900 unique IT sourcing relationships. EPAM scored 80% in digital transformation and 79% in service delivery quality, both surpassing the industry average of 75%. This recognition highlights EPAM's competitive edge in digital transformation, application services, and innovation metrics. The announcement aligns with similar accolades EPAM received across various European markets throughout 2023 and 2024.

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EPAM Systems, Inc. reported first-quarter revenues of $1.165 billion, down 3.8% year-over-year. GAAP income from operations was 9.5% of revenues, with non-GAAP income at 14.9%. GAAP diluted EPS was $1.97, an increase of $0.24, while non-GAAP diluted EPS was $2.46, a decrease of $0.01 year-over-year. EPAM updated full-year revenue outlook to be in the range of $4.575 billion to $4.675 billion. For the second quarter, expected revenues are between $1.135 billion to $1.145 billion.

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FAQ

What is the current stock price of EPAM SYSTEMS (EPAM)?

The current stock price of EPAM SYSTEMS (EPAM) is $235.42 as of January 22, 2025.

What is the market cap of EPAM SYSTEMS (EPAM)?

The market cap of EPAM SYSTEMS (EPAM) is approximately 13.1B.

What services does EPAM Systems provide?

EPAM Systems offers digital platform engineering, software development, AI-enabled transformation services, and business and experience consulting.

Where is EPAM Systems headquartered?

EPAM Systems is headquartered in the United States.

What markets does EPAM serve?

EPAM serves clients worldwide, with its largest market being North America.

How long has EPAM Systems been in business?

EPAM Systems has been in business since 1993.

What recent acquisitions has EPAM made?

EPAM recently acquired Vates S.A., enhancing its software development capabilities and presence in Latin America.

What are some of EPAM Systems' latest innovations?

EPAM's latest innovations include OSPulse™, an enterprise-level analytics dashboard for monitoring open source engagement.

What awards has EPAM Systems won recently?

EPAM was awarded the 2024 Google Cloud Talent Development Partner of the Year Award in North America and recognized by Glassdoor as a Best Workplace in 2023 and 2024.

How does EPAM ensure quality and cost-effectiveness?

EPAM focuses on harmonizing delivery quality, optimizing cost-effectiveness, and leveraging its extensive experience in data, engineering, and consulting.

How does EPAM contribute to the open source community?

EPAM actively engages in the open source community through projects like OSPulse™ and the Open Source Contributor Index (OSCI).

Where can I learn more about EPAM Systems?

You can learn more about EPAM Systems by visiting their website at www.epam.com.
EPAM SYSTEMS, INC.

NYSE:EPAM

EPAM Rankings

EPAM Stock Data

13.13B
54.83M
3.34%
94.24%
0.99%
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