QUOTE AND NEWS
SeekingAlpha  Mar 20  Comment 
By Daniel Kohlsdorf: About EPAM EPAM Systems (NYSE: EPAM) is an IT services provider based in Newton, Pennsylvania with 3,900 of its 9,300 engineers located in the troubled Ukraine and Russia, and offices in 12 countries including the UK,...
TheStreet.com  Mar 4  Comment 
NEW YORK (TheStreet) -- EPAM Systems  soared 16.21% to $37.21, up $5.19 from its previous close of $32.02, at the close of the trading day on Tuesday as the company surged on heavy volume. The stock had a volume of 3,634,795, nearly 10 times...
Benzinga  Mar 4  Comment 
Luxoft Holding (NYSE: LXFT) shares moved up 19.67% to $34.50. The volume of Luxoft Holding shares traded was 1466% higher than normal. Luxoft scheduled a conference call to review Luxoft operations in Ukraine on March 4. EPAM Systems (NYSE:...
Benzinga  Feb 21  Comment 
In a report published Friday, Citigroup analyst Ashwin Shirvaikar reiterated a Buy rating on EPAM Systems (NYSE: EPAM), and raised the price target from $46.00 to $50.00. In the report, Citigroup noted, “EPAM had solid results, much better...
SeekingAlpha  Feb 20  Comment 
EPAM Systems (EPAM) Q4 2013 Earnings Call February 20, 2014 8:00 am ET Executives Arkadiy Dobkin - Co-Founder, Chairman, Chief Executive Officer and President Anthony J. Conte - Chief Financial Officer Analysts Moshe Katri -...
StreetInsider.com  Feb 19  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/EPAM+Systems+%28EPAM%29+Tops+Q4+EPS+by+2c%3B+Issues+Light+Q1+Profit+Outlook/9192215.html for the full story.
Forbes  Feb 7  Comment 
Investors considering a purchase of EPAM Systems (NYSE: EPAM) shares, but tentative about paying the going market price of $42.27/share, might benefit from considering selling puts among the alternative strategies at their disposal. One...
StreetInsider.com  Nov 7  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/EPAM+Systems+%28EPAM%29+Tops+Q3+EPS+by+1c/8862183.html for the full story.




 

EPAM Systems (NYSE:EPAM) makes money by providing IT services. The company's clients include technology companies and independent software vendors who use EPAM's software engineering services. EPAM operates industry specific verticals which can provide more specified support and services to its customers. They operate delivery centers in Central and Eastern Europe where technical talent is relatively inexpensive.[1]


Business Overview

For the first nine months of September 2011, the full year revenues were $239M. This resulted in a net income of $32M. For the same period in 2010, EPAM reported revenues of $151M and a net income of $17M. [2]

New Updates

The company's initial public offering of stock on the NYSE occurred on February 7, 2012. The company offered 6M shares each for $12. This was well below the $16-$18initial price range. The deal raised a total of $72M. The lead mangers of the deal were Citi, UBS, and Barclays.[3]

Trends & Forces

Dependence on Relative Wages

EPAM's business model rests on its ability to benefit from the relatively low wages for talent in Central and Eastern Europe compared with those of its clients. This strategy requires that the talent is unable or unwilling to move to EPAM's clients' locations. It further needs the wages where its clients are located to remain relatively high while the labor force in competitor countries like India or China remain either not trained enough or too expensive. As a result, shifts in labor trends will have a significant impact on EPAM. [4]

  1. EPAM S-1/A 2012 PROSPECTUS SUMMARY "Summary" pg. 1-3
  2. EPAM S-1/A 2012 PROSPECTUS SUMMARY "SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA" pg. 7
  3. Renaissance Capital - IPO Home "EPAM Systems prices downsized IPO at $12, below the range" 8 Feb 2012
  4. EPAM S-1/A 2012 PROSPECTUS SUMMARY "Risk Factors" pg. 10-13
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