Stock Alert: Shares Of EPAM Systems Inc. (EPAM) Hit 52-Week High

(RTTNews) - Shares of the Newtown, Pennsylvania-based software product development and digital platform engineering services provider EPAM Systems Inc. (EPAM) touched a new 52-week high of $221.70 on Jan. 9, 2020, and closed Wednesday's trading session at $221.38, up $5.77 or 2.68%.

Recent Happenings

Last month, the company expanded its crowdtesting software solutions to enable user story testing. As part of its test IO platform, the enhanced QA testing will help software teams verify that products work in real-world conditions before they are released.

On November 7, 2019, EPAM Systems reported upbeat Q3 results, largely driven by the continued demand for its services. Also, the company reaffirmed its fiscal 2019 guidance and issued Q4 outlook.

For fiscal 2019...

The company sees 2019 revenue growth to continue to be at least 23%, GAAP income from operations in the range of 12.5% - 13.5% of revenues and non-GAAP income from operations to now be in the range of 16.5% - 17.5% of revenues.

EPAM Systems now expects GAAP EPS to be at least $4.43, and non-GAAP EPS to be at least $5.35 for the full year.

For the fourth quarter...

Revenues are expected to be at least $616 million, reflecting a year-over-year growth rate of 22%. The company expects GAAP income from operations to be in the range of 13.5% - 14.5% of revenues, non-GAAP income from operations in the range of 16.5% - 17.5% of revenues, GAAP EPS to be at least $1.19, and non-GAAP EPS to be at least $1.43 for the quarter.

Q3 Results

Net income for the third quarter was $67.0 million or $1.16 per share versus $65.6 million or $1.15 per share last year.

Non-GAAP net income was $80.2 million or $1.39 per share compared to $66.4 million or $1.17 per share in the prior year period.

Revenues increased to $588.1 million from $468.2 million generated a year ago.