EPAM
EPAM Systems, Inc.Evidence as of 2026-09-02Overview · EPAM Systems, Inc.
EPAM Systems, Inc. provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and infrastructure management for…
Management team
- Mr. Edward F. Rockwell · Senior VP, General Counsel & Corporate SecretaryFind on LinkedIn
- Mr. Philip Storm · Senior VP & Chief Compliance OfficerFind on LinkedIn
- Mr. Gary Abrahams · VP, Corporate Controller & Chief Accounting OfficerFind on LinkedIn
- Mr. Yuriy Goliyad · Head of Global Operations & Senior VPFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.1 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
Mixed (-0.1 of a possible +2; was -0.1 before debate) · confidence high. The desk’s surviving numbers show revenue of $ 1,414,767,000 in fiscal Q2 2026 (fiscal quarter ended 2026-07-31) versus $ 1,400,061,000 in fiscal Q1 2026 (fiscal quarter ended 2026-04-30) and $ 1,353,443,000 in the comparable quarter a year earlier. Operating income rose to $ 152,222,000 in fiscal Q2 2026 from $ 116,768,000 in fiscal Q1 2026, implying an operating margin near 10.8% versus about 8.3% sequentially, and net income was $ 102,979,000 in fiscal Q2 2026 versus $ 82,521,000 in fiscal Q1 2026 and $ 88,026,000 in the year-ago quarter.
Cash and total-assets items also survived the review: cash and cash equivalents fell to $ 789,397,000 as of 30 June 2026 while total assets declined to $ 4,574,086,000 and stockholders’ equity to $ 3,518,719,000 versus year‑end comparators. Share count has declined in the point-in-time snapshots, with diluted weighted‑average shares and reported repurchases showing large buyback activity (for example $ 323,980,000 in fiscal Q1 2026 and $ 85,000,000 in fiscal Q2 2026), and market metrics show steep multi‑year drawdowns (three‑year drawdown −75.8%), elevated volatility, low market sensitivity (beta 0.54), and mixed momentum and relative‑strength readings.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue was $1,414,767,000 in the quarter ended 30 June 2026 (fiscal Q2 2026, 2026-04-01 to 2026-06-30) compared with $1,400,061,000 in the quarter ended 31 March 2026 (fiscal Q1 2026, 2026-01-01 to 2026-03-31) and $1,353,443,000 in the quarter ended 30 June 2025 (period 2025-04-01 to 2025-06-30).
XBRL companyfacts · 0001352010-26-000046Operating income rose to $152,222,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30) from $116,768,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31), implying an operating margin of about 10.8% in fiscal Q2 2026 (152,222,000 / 1,414,767,000) versus about 8.3% in fiscal Q1 2026 (116,768,000 / 1,400,061,000).
XBRL companyfacts · 0001352010-26-000046Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Price drawdown over the trailing three years is -75.8% and the current drawdown from the 3-year high is -63.0%; the 3-year drawdown ranks in the 7th percentile of the 547-stock research universe as of 2026-09-01.
Moneyta signal set · 2026-09-01Momentum readings are mixed intraperiod: momentum over 3 months is +12.7% but 6-month momentum is -17.4% and the 12_1 momentum measure is -32.0%; cross-sectional momentum ranks are low (rank_momentum_6m at the 10th percentile and rank_momentum_12_1 at the 9th percentile of 547) as of 2026-09-01.
Moneyta signal set · 2026-09-01weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02, EPAM appears in several major ETFs with reported fund weights: VB 0.21%, XLK 0.14%, VGT 0.13%, VOO 0.03%, SCHX 0.02%, SCHB 0.02%, and IWF 0.0%.
ETF constituents · market dataThe latest reported 13F quarter shows a single institutional filer, NORRIS PERNE & FRENCH LLP/MI, with a holding value of $4.3M for the period ended 2026-03-31 and a total reported institutional value of $4.3M.
13F holdings · 1 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Engine Capital, an investor with about a 1.5% stake, has publicly urged EPAM's board to initiate a $750 million accelerated share repurchase program, according to a published letter.
News · finance.yahoo.com · 2026-08-31Multiple outlets reported the same activist pressure theme — coverage describing Engine Capital pushing EPAM for share buybacks or a sale appears in Channel NewsAsia as well as the Yahoo-hosted release, indicating the story circulated through more than one distinct outlet.
News · channelnewsasia.com · 2026-08-31Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
At the price 116.34 on 2026-09-01, the implied free cash flow (FCF) growth rate that the price would justify under the stated discount and terminal assumptions is 24.87% (0.2487).
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve‑month free cash flow (FCF) is $163,208,000 and price to FCF (price / FCF) is 37.26.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
SEC-filed quarterly results show sequential and year-over-year revenue growth, a material jump in operating income and operating margin in Q2 2026, and higher net income versus both the prior quarter and prior-year quarter — these are strong, company-reported operational data points. Share-count reduction is supported by point-in-time share data and large, disclosed share-repurchase payments, which together provide strong evidence of active capital-return activity that amplifies per-share earnings. Balance-sheet items show ample liquidity swings and slightly lower equity, while long-term debt remains small and stable; these filings are direct-source and therefore strong evidence. Market- and valuation-related claims (large multi-year price drawdown, mixed momentum, elevated volatility, and a demanding implied FCF growth rate) are also well-supported by the market-signal dataset and highlight market skepticism; the valuation picture is mixed because trailing P/E and EV/EBITDA look moderation-friendly while price/FCF and implied FCF-growth requirements are weaker.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
27 surviving claims rest on 13 distinct sources; the heaviest analyst carries 26% of them, and 98% of what the desk raised survived the debate.
The read rests on a moderate breadth of sources but a small number of analysts contribute a large share of surviving claims; that raises fragility — the narrative is reasonably coherent but sensitive to a few contributors and a few key documents. Because nearly all raised points survived review, the desk’s internal consensus is stable, but external-source concentration and analyst weighting mean the read should carry cautious weight until independently reconfirmed by additional filings or diversified data.
Peer context · computed, not argued
12-1 momentum ranks 4th of 7 in Information Technology Services (as of 2026-09-01).
6-month relative strength ranks 6th of 7 in Information Technology Services (as of 2026-09-01).
90-day volatility ranks 4th of 7 in Information Technology Services (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
14 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.9 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−1.1 to the score
2 holdings records
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on EPAM Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.