EPAM Systems (NYSE: EPAM) has recently experienced a series of challenging circumstances, including a decline in Q4 and full year 2023 earnings, linked to growing costs. EPAM's stock shares also took a hit following a downgrade amid macroeconomic headwinds and growth concerns. The company's attempts to return acceleration did not initially succeed, resulting in lowered full-year guidance and causing further share value decline.Several key players like Vanguard Personalized Indexing Management LLC and Envestnet Portfolio Solutions Inc. have reduced their stock holdings in EPAM while the shares remain neutral, as per Piper Sandler's reiterated recommendation. The company aims to expand its presence in India and has made strategic investments, such as in CloudFrame's Intelligent COBOL Transformation Platform. Despite these challenges, EPAM was recognized in multiple IDC Marketscape Reports as a leader and was named 2024 Google Cloud Partner of the Year. Their Consumer Banking Report, powered by AI and built alongside Continuum, resulted in financial performance better than expected, highlighting AI success in the process.The company also announced its strategic collaboration with AWS and the launch of an AI-powered DIAL Platform, indicating their persistence in innovation. However, the company's Q1 2024 results were mixed, showing EPS beats expectations, but shares fell due to the downbeat FY24 guidance. The company's fundamentals remain strong despite a falling stock trend.
Epam Systems EPAM News Analytics from Tue, 26 Sep 2023 07:00:00 GMT to Thu, 23 May 2024 15:50:49 GMT -
Rating -3
- Innovation -2
- Information 6
- Rumor -4
