In this research note, I will focus on the investment analysis for the stock of EPAM Systems (EPAM), which I believe to be notably undervalued as the current share price is not fully reflective of the company's robust growth profile.
Founded in 1993, EPAM provides software product development services to corporate customers in various industries globally. The company's diversified service offerings include software development, application testing and maintenance, enterprise application platform, as well as infrastructure management. The details for each business are shown in the chart below.
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Aside from servicing customers in the software development industry, EPAM also targets many other industry verticals such as banking, asset management, travel, consumer, and media....