Channel programs News
Channel Stocks Winners And Losers Of 2022 (So Far)
It’s been a rough six months for stock markets and channel company stocks have not been immune from the big sell-off. Here’s a look at the (few) companies whose share prices increased in the first half of 2022 and the 10 companies with the biggest share price declines.
Decliners No. 10: EPAM Systems
CEO: Arkadiy Dobkin
Jan. 3, 2022, Opening: $670.32
June 30, 2022, Close: $294.78
EPAM, a provider of digital transformation and advanced software engineering services, has been reporting robust revenue growth in recent years. But in a sign of how pervasive the decline in stock prices has been, the Newtown, Pa.-based company recorded the biggest share price drop among all the channel companies on our watch list.
EPAM reported revenue of $1.17 billion for the first quarter (ended March 31) of 2022, up 50.1 percent from $780.8 million in the first quarter of 2021.
Net income for the quarter was $89.7 million, down 17.7 percent from $109.0 million year over year.
In June EPAM was elevated to Platinum status within the Adobe Solution Partner Program.