Epam Systems Stock
Epam stock is in a buy zone after breaking out from a cup-with-handle chart pattern. The ideal entry point is 235.13.
The relative strength line has also been generally making progress, though it has been declining slightly over the past month.
Like Microsoft, Epam stock is an IBD Long-Term Leader. The Stock Checkup Tool shows earnings are a key strength, rating even higher than its stock market performance. Over the past three years EPS has grown by an average of 26%, just above CAN SLIM requirements. It has grown by a more modest average of 17% over the past three quarters. It has a very strong Composite Rating of 94.
Epam specializes in custom software development and platform engineering services. Most of its computer software developers come from Eastern Europe, with offshore centers in Belarus, Ukraine, Russia and Hungary.
While the coronavirus crisis has impacted its customers in the travel and consumer sectors, the stock is now rebounding well. A focus on "digital transformation" projects will be a "logical area of spending" for the recent IBD Stock Of The Day, according to William Blair analyst Maggie Nolan. This will include customer service initiatives like chatbots, turning paperwork into electronic records, automating business workflows and data analytics.
"In what is emerging as a consistent theme across the industry, Epam is focused on the long-term health and opportunity for the business and therefore minimizing disruption to its talent base while balancing controlling costs, including labor costs," Nolan said in a recent note to clients. "Epam expects a post-virus world where its core digital services are in even higher demand."
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