EPAM Systems Inc. (EPAM) announced it had opened a new office in Canada. A positive signal will be sent to investors by this development. EPAM is opening a development office in a stable part of the country, which will be important to its long-term development.
Software development services and utilizing the resources of developing nations make up EPAM’s business. Some regions are likely to experience negative social and economic phenomena by 2020. This was an additional reminder of the risks associated with EPAM.
These risks will be mitigated by the new office, located in the Canadian city of Waterloo. The office is located more than fifty kilometers from the nearest major city, Toronto, ensuring the existing Canadian problem of high housing costs in urban areas will partially be ameliorated. EPAM can qualify qualified employees for relocation programs or attract them to the local market because Canada is one of the most popular destinations for emigration from developing countries. A virtual job fair will be held next week on its website, and the announcement has already been posted.
It will focus on the most profitable software production areas and will manufacture software for finance, healthcare, telecommunications, media, and entertainment.
By opening an office in Canada, the EPAM stock is sending a positive signal to long-term investors. It is moving toward more sustainable business practices. Canada has a higher cost of living than most countries, but EPAM has access to its worldwide recruiting capabilities to lower costs. Additionally, there is an increasing shortage of qualified software engineers for complex projects around the world. EPAM is experiencing increased demand as engineering code becomes more difficult and complicated.
EPAM Systems Inc. (EPAM) stock gained 4.24% to close at $448.67 in the last trading session. The EPAM stock traded between $437.305 and $449.29 a share. Its daily average was 0.3 million shares. EPAM’s shares have gained 6.69% in the last five days and 20.71% over the last month. Further, it currently has a price to book ratio of 12.68 and a price to earnings ratio of 80.16. The EPAM stock currently has a price-to-cash-flow ratio of 52.69.