Software development company Epam Systems (NYSE: EPAM) was a big mover in an otherwise dull day for stocks, jumping nearly 25% after reporting much improved fourth-quarter earnings.
The company’s quarterly revenue of $95 million was 34% higher than it was during the same quarter a year ago. It was also 6.4% better than the $89.3 million in revenue analysts were expecting.
Today’s big gains are probably the high point in Epam’s short stint as a publicly traded company. Epam went public on February at $12 a share. After today’s move, the stock is all the way up to $21.11 a share.
This marked Epam’s first earnings report since going public.
Epam bills itself as the No. 1 software services and solutions provider from Central and Eastern Europe.
Epam’s big move was an exception on an otherwise calm day for the markets. After a 1% jump yesterday, both the S&P 500 and Dow Jones Industrial Average had modest pullbacks today. S&P 500 stocks fell 0.3%, or 4 points, while the Dow dropped 0.33%, or 44 points.
The Nasdaq was virtually unchanged, down just a few ticks.
The pullback wasn’t surprising considering that stocks were trading close to four-year highs entering the day.
Epam wasn’t the day’s biggest gainer. That distinction went OptimumBank Holdings (Nasdaq: OPHC) , a South Florida bank whose stock climbed 54.6% on Tuesday.