EPAM SYS INC EPAM
COM · Common Stock · CUSIP 29414B104 · ISIN US29414B1044
Global provider of software engineering and IT consulting services
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($24.2m this quarter). Holder counts are more reliable. Shares outstanding: 56.9m as of 2024-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $187.95. Options: 18 managers hold calls ($60.5m notional), 18 hold puts ($76.1m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 592 |
| Q4 2022 | 611 |
| Q1 2023 | 570 |
| Q2 2023 | 509 |
| Q3 2023 | 518 |
| Q4 2023 | 559 |
| Q1 2024 | 570 |
| Q2 2024 | 538 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 268 | 289 |
| Q1 2023 | 257 | 327 |
| Q2 2023 | 225 | 334 |
| Q3 2023 | 261 | 256 |
| Q4 2023 | 238 | 273 |
| Q1 2024 | 282 | 259 |
| Q2 2024 | 279 | 284 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $185.5m | $144.7m | 0.78 |
| Q4 2023 | $138.4m | $143.5m | 1.04 |
| Q1 2024 | $76.4m | $91.8m | 1.20 |
| Q2 2024 | $60.5m | $76.1m | 1.26 |
Biggest buyers
| Invesco Ltd. | Added | +1.5m |
| Pacer Advisors, Inc. | Added | +652.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +291.6k |
| CITADEL ADVISORS LLC | Added | +267.1k |
| TD Asset Management Inc | Added | +264.6k |
| D. E. Shaw & Co., Inc. | Added | +247.2k |
| STATE STREET CORP | Added | +199.3k |
| Mitsubishi UFJ Trust & Banking Corp | Added | +196.0k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +188.7k |
| VIKING GLOBAL INVESTORS LP | Added | +176.7k |
Biggest sellers
| ALLIANCEBERNSTEIN L.P. | Reduced | -1.2m |
| LONE PINE CAPITAL LLC | Sold out | -929.9k |
| JPMORGAN CHASE & CO | Reduced | -823.4k |
| MORGAN STANLEY | Reduced | -789.5k |
| Nuveen Asset Management, LLC | Reduced | -593.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -587.6k |
| BlackRock Inc. | Reduced | -447.4k |
| DSM CAPITAL PARTNERS LLC | Sold out | -353.9k |
| Balyasny Asset Management L.P. | Reduced | -278.9k |
| Dorsal Capital Management, LP | Sold out | -275.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $15.8m84.2k shares |
| CITADEL ADVISORS LLC | Added | $13.5m71.8k shares |
| Cubist Systematic Strategies, LLC | Added | $8.9m47.3k shares |
| Squarepoint Ops LLC | Added | $8.5m45.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $3.9m20.8k shares |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | New | $2.8m15.0k shares |
| JANE STREET GROUP, LLC | Reduced | $1.7m9.1k shares |
| PEAK6 Investments LLC | Reduced | $1.4m7.7k shares |
| SIMPLEX TRADING, LLC | Added | $1.0m5.5k shares |
| WOLVERINE TRADING, LLC | Reduced | $884.1k4.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $31.5m167.2k shares |
| CITADEL ADVISORS LLC | Added | $12.3m65.2k shares |
| SIMPLEX TRADING, LLC | Added | $6.8m36.3k shares |
| GROUP ONE TRADING LLC | Reduced | $5.2m27.4k shares |
| Cubist Systematic Strategies, LLC | Added | $3.3m17.3k shares |
| GTS SECURITIES LLC | Added | $3.0m16.2k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $3.0m16.0k shares |
| Squarepoint Ops LLC | Reduced | $2.9m15.3k shares |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | New | $2.8m15.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.3m7.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +4.9 pts · filed 2026-07-08 | 11.9% |
| AMERIPRISE FINANCIAL INC 13G · institution +3.2 pts · filed 2026-07-08 | 10.5% |
| Capital World Investors 13G · institution -4.0 pts · filed 2026-08-12 | 9.4% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.7% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution -2.4 pts · filed 2026-07-31 | 5.1% |
Fell to 5% or below in the last year: Invesco Ltd. (4.6%, 2026-08-13), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 5 | $28.9m | — |
| Q4 2022 | 0 | — | 1 | $350.0k | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $368.5k | — |
| Q4 2023 | 0 | — | 2 | $2.8m | $2.8m |
| Q1 2024 | 0 | — | 5 | $17.6m | $630.0k |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 7.0m $1.3bn | Added +120.6k |
| Capital Research Global Investors 0.22% of their portfolio | 5.3m $989.1m | Reduced -184.0k |
| BlackRock Inc. 0.02% of their portfolio | 4.6m $866.2m | Reduced -447.4k |
| Invesco Ltd. 0.11% of their portfolio | 2.8m $532.8m | Added +1.5m |
| STATE STREET CORP 0.02% of their portfolio | 2.5m $474.9m | Added +199.3k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 2.4m $447.6m | Reduced -823.4k |
| WCM INVESTMENT MANAGEMENT, LLC 0.98% of their portfolio | 2.3m $416.6m | Reduced -201.6k |
| FMR LLC 0.02% of their portfolio | 1.9m $359.2m | Reduced -171.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.3m $250.3m | Added +19.2k |
| Capital World Investors 0.04% of their portfolio | 1.2m $222.2m | Added +122.5k |
| CITADEL ADVISORS LLC 0.15% of their portfolio | 819.7k $154.2m | Added +267.1k |
| VIKING GLOBAL INVESTORS LP 0.55% of their portfolio | 756.3k $142.3m | Added +176.7k |
| NORGES BANK 0.02% of their portfolio | 745.6k $140.3m | Added +86.1k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 730.5k $137.4m | Reduced -593.8k |
| Mitsubishi UFJ Trust & Banking Corp 0.32% of their portfolio | 708.3k $133.2m | Added +196.0k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 684.1k $128.7m | Added +34.6k |
| MORGAN STANLEY 0.01% of their portfolio | 658.4k $123.8m | Reduced -789.5k |
| Pacer Advisors, Inc. 0.28% of their portfolio | 657.1k $123.6m | Added +652.5k |
| TD Asset Management Inc 0.10% of their portfolio | 595.5k $112.0m | Added +264.6k |
| MARSHALL WACE, LLP 0.14% of their portfolio | 544.0k $102.3m | Reduced -231.9k |
| MANNING & NAPIER ADVISORS LLC 0.96% of their portfolio | 451.1k $84.8m | First filing |
| Alyeska Investment Group, L.P. 0.46% of their portfolio | 420.6k $79.1m | Added +27.6k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 379.8k $71.5m | Added +15.1k |
| D. E. Shaw & Co., Inc. 0.10% of their portfolio | 360.6k $67.8m | Added +247.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 354.4k $66.7m | Added +11.0k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.64% of their portfolio | 343.7k $64.7m | Added +30.3k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 342.7k $64.5m | Added +85.9k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.24% of their portfolio | 340.7k $64.1m | Added +291.6k |
| Epoch Investment Partners, Inc. 0.29% of their portfolio | 338.7k $63.7m | Added +167.3k |
| Legal & General Group Plc 0.02% of their portfolio | 321.0k $60.4m | Added +14.0k |
| GILDER GAGNON HOWE & CO LLC 0.73% of their portfolio | 309.1k $58.2m | Added +54.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 304.5k $57.3m | Added +62.1k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.23% of their portfolio | 299.5k $56.3m | Added +8.3k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 279.0k $52.3m | Added +61.8k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 266.0k $50.0m | Added +76.1k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 228.0k $42.9m | Reduced -587.6k |
| Baird Financial Group, Inc. 0.09% of their portfolio | 226.9k $42.7m | Reduced -17.5k |
| Assenagon Asset Management S.A. 0.11% of their portfolio | 225.6k $42.4m | Added +56.5k |
| Squarepoint Ops LLC 0.15% of their portfolio | 218.6k $41.1m | Added +164.3k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 215.3k $40.5m | Added +66.2k |
| TYBOURNE CAPITAL MANAGEMENT (HK) LTD 8.13% of their portfolio | 212.6k $40.0m | Added +93.2k |
| Owls Nest Partners IA, LLC 11.39% of their portfolio | 211.9k $39.9m | Added +84.4k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.24% of their portfolio | 211.7k $39.8m | Reduced -111.3k |
| VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio | 198.5k $37.3m | Reduced -14.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 197.5k $37.2m | Added +23.0k |
| ACADIAN ASSET MANAGEMENT LLC 0.11% of their portfolio | 189.1k $35.6m | Added +188.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.04% of their portfolio | 184.8k $34.8m | Added +124.1k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 174.8k $32.9m | Added +90.4k |
| TUDOR INVESTMENT CORP ET AL 0.36% of their portfolio | 172.6k $32.5m | Added +150.6k |
| Swiss National Bank 0.02% of their portfolio | 171.6k $32.3m | Reduced -1.2k |
| MARTIN CURRIE LTD 1.13% of their portfolio | 167.1k $31.4m | Reduced -4.8k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 163.9k $30.8m | Added +3.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 150.5k $28.3m | Added +110.5k |
| UBS Group AG 0.01% of their portfolio | 147.0k $27.7m | Added +7.3k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 136.4k $25.6m | Added +90.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 136.0k $25.6m | Added +22.2k |
| Harding Loevner LP 0.13% of their portfolio | 125.3k $23.6m | Reduced -50.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 124.8k $23.5m | Reduced -10.7k |
| Andra AP-fonden 0.39% of their portfolio | 124.0k $23.3m | Added +68.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 121.2k $22.8m | Reduced -22.1k |
| BARCLAYS PLC 0.01% of their portfolio | 114.6k $21.6m | Reduced -7.1k |
| Amundi 0.01% of their portfolio | 113.5k $21.1m | Added +25.9k |
| Ensign Peak Advisors, Inc 0.04% of their portfolio | 111.3k $20.9m | Reduced -50.6k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 104.9k $19.7m | Reduced -12.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 102.9k $19.4m | Added +1.5k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.06% of their portfolio | 100.5k $18.9m | New |
| California Public Employees Retirement System 0.01% of their portfolio | 94.9k $17.9m | Reduced -1.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 93.7k $17.6m | Added +2.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 89.4k $16.8m | Reduced -61.3k |
| FEDERATED HERMES, INC. 0.04% of their portfolio | 88.5k $16.6m | Added +86.8k |
| Trexquant Investment LP 0.23% of their portfolio | 80.3k $15.1m | Added +36.4k |
| EULAV Asset Management 0.41% of their portfolio | 79.7k $15.0m | Unchanged |
| Point72 Asset Management, L.P. 0.05% of their portfolio | 79.4k $14.9m | Reduced -127.0k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 79.0k $14.7m | Added +57.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 75.3k $14.2m | Added +6.6k |
| Distillate Capital Partners LLC 0.75% of their portfolio | 74.9k $14.1m | New |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 71.8k $13.5m | Added +65.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 69.8k $13.1m | Reduced -3.9k |
| Korea Investment CORP 0.03% of their portfolio | 69.4k $13.1m | Added +48.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 68.7k $12.9m | Added +52.7k |
| Aureus Asset Management, LLC 0.90% of their portfolio | 68.2k $12.8m | Reduced -5.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 67.8k $12.8m | Reduced -1.2m |
| GENEVA CAPITAL MANAGEMENT LLC 0.23% of their portfolio | 67.3k $12.7m | Added +1.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 64.8k $12.2m | Added +2.7k |
| CAPITAL FUND MANAGEMENT S.A. 0.14% of their portfolio | 63.7k $12.0m | New |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 59.3k $11.2m | Added +54.3k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 58.8k $11.1m | Added +4.2k |
| Clearline Capital LP 0.97% of their portfolio | 58.8k $11.1m | New |
| CITIGROUP INC 0.01% of their portfolio | 58.0k $10.9m | Added +22.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 57.4k $10.8m | Added +3.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 56.2k $10.6m | New |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 55.6k $10.5m | Reduced -33.5k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 54.2k $10.2m | Reduced -27.3k |
| Polar Asset Management Partners Inc. 0.26% of their portfolio | 53.6k $10.1m | New |
| Robeco Institutional Asset Management B.V. 0.02% of their portfolio | 53.3k $10.0m | Added +9.9k |
| NORRIS PERNE & FRENCH LLP/MI 0.72% of their portfolio | 52.6k $9.9m | Reduced -9.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 52.2k $9.8m | Reduced -9.0k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 51.6k $9.7m | Reduced -278.9k |
| CAMBIAR INVESTORS LLC 0.35% of their portfolio | 48.1k $9.0m | Reduced -66 |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 46.9k $8.8m | Added +16.0k |