EPAM Systems, Inc. (EPAM)

Over the past six months, EPAM's stock price has experienced a decline of approximately 27.10%. As of June 27, 2025, the stock was down 1.50% over the past 30 days and 4.70% over the past 12 months. Key events impacting the stock include the Q1 2024 Earnings Report, which cited volatility in the global demand environment, and the leadership transition with Arkadiy Dobkin transitioning to Executive Chairman and Balazs Fejes set to become CEO in September. Despite delivering above-consensus Q1 earnings and raising annual forecasts, EPAM's stock remained down year-to-date, underperforming tech benchmarks. Jefferies holds a bullish view, highlighting EPAM's strategic positioning to capitalize on the AI boom, while skeptics argue that EPAM's core business is largely disconnected from AI.

While specific demand seasonality is not explicitly detailed, EPAM has experienced volatility in the global demand environment and a slowdown in digital engineering, data, cloud, and AI services in Q1 2024. Demand can fluctuate, potentially influenced by broader economic factors and client budget cycles. EPAM is taking a conservative approach to planning and is prepared for a more normalized demand environment in the future. The company's diversified client base might help mitigate extreme seasonality impacts.

EPAM Systems, Inc. is an American company specializing in software engineering services, digital platform engineering, and digital product design, headquartered in Newtown, Pennsylvania. It operates within the Technology sector, specifically in the Information Technology Services industry. EPAM provides a comprehensive suite of services and solutions, including software product engineering, digital platform engineering, digital & service design, IT consulting, and continuous support & evolution. Other key offerings include cloud services, data, analytics and artificial intelligence, customer experience design, and cybersecurity. EPAM serves a diverse range of industries, including financial services; consumer goods, retail and travel; software and Hi-tech; business information and media; life sciences and healthcare; education; energy resources; automotive and insurance; and emerging vertical industries.

EPAM Systems, Inc. has a global presence, serving customers across North America, Europe, Asia, and Australia. Its business presence extends to countries such as the US, UK, Germany, Switzerland, China, Belarus, the Netherlands, Ukraine, Armenia, and Poland, among others. North America represents its largest market, accounting for approximately 60% of its revenue. The company has been expanding its presence in Latin America and India through acquisitions and investments.

EPAM Systems maintains a strong brand reputation. The company was recognized in Newsweek's Top 100 Most Loved Workplaces for the third consecutive year in 2023 and ranked in the Top 5 for IT Services and IT Consulting in Newsweek's Excellence 1000 Index in 2025. EPAM has been consistently recognized as a Top IT Vendor in various European markets by Whitelane Research, with clients highlighting its technical proficiency, account management, agile resource deployment, and partnership-driven operating model. The company acknowledges that its corporate reputation is susceptible to damage from various external factors, which could adversely affect its business.

EPAM Systems, Inc. has a mixed ownership structure, with a significant portion held by institutional investors. Approximately 79.92% of the company's shares are held by institutional investors, including Vanguard Group Inc., BlackRock, Inc., and Invesco Ltd. Individuals hold approximately 3.56% of the shares, and insiders own about 3.56% of the company's stock. Arkadiy Dobkin is a notable individual insider, and Russia Partners II LP is listed as the largest individual shareholder.