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 ($18.5m this quarter). Holder counts are more reliable. Shares outstanding: 56.7m as of 2024-10-31, 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 ≈ $198.79. Options: 18 managers hold calls ($64.0m notional), 20 hold puts ($108.8m).
Trends to Q3 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 |
| Q3 2024 | 559 |
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 |
| Q3 2024 | 308 | 236 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $138.4m | $143.5m | 1.04 |
| Q1 2024 | $76.4m | $91.8m | 1.20 |
| Q2 2024 | $60.5m | $76.1m | 1.26 |
| Q3 2024 | $64.0m | $108.8m | 1.70 |
Biggest buyers
| AMERIPRISE FINANCIAL INC | Added | +1.5m |
| Capital World Investors | Added | +708.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +361.4k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +202.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Added | +161.0k |
| BANK OF AMERICA CORP /DE/ | Added | +155.5k |
| Alyeska Investment Group, L.P. | Added | +149.1k |
| HRT FINANCIAL LP | New | +136.1k |
| ALLIANCEBERNSTEIN L.P. | Added | +122.3k |
| SG Capital Management LLC | New | +119.9k |
Biggest sellers
| Capital Research Global Investors | Reduced | -2.8m |
| VIKING GLOBAL INVESTORS LP | Sold out | -756.3k |
| Pacer Advisors, Inc. | Reduced | -652.7k |
| CITADEL ADVISORS LLC | Reduced | -317.9k |
| Nuveen Asset Management, LLC | Reduced | -305.7k |
| JPMORGAN CHASE & CO | Reduced | -260.4k |
| MARSHALL WACE, LLP | Reduced | -204.1k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -178.0k |
| Invesco Ltd. | Reduced | -146.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -122.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $18.2m91.4k shares |
| CITADEL ADVISORS LLC | Reduced | $9.3m46.6k shares |
| Cubist Systematic Strategies, LLC | Reduced | $8.9m44.5k shares |
| Squarepoint Ops LLC | Reduced | $8.2m41.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $3.9m19.5k shares |
| IMC-Chicago, LLC | New | $3.0m15.2k shares |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | Unchanged | $3.0m15.0k shares |
| JANE STREET GROUP, LLC | Added | $2.5m12.6k shares |
| WOLVERINE TRADING, LLC | Added | $2.0m10.2k shares |
| PEAK6 Investments LLC | Reduced | $1.5m7.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $33.2m167.0k shares |
| SG Capital Management LLC | New | $19.9m100.0k shares |
| CITADEL ADVISORS LLC | Reduced | $12.8m64.5k shares |
| SIMPLEX TRADING, LLC | Added | $7.4m37.0k shares |
| Twin Tree Management, LP | New | $6.5m32.9k shares |
| GROUP ONE TRADING LLC | Reduced | $5.4m27.3k shares |
| GTS SECURITIES LLC | Added | $3.8m19.1k shares |
| Cubist Systematic Strategies, LLC | Unchanged | $3.4m17.3k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $3.2m16.0k shares |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | Unchanged | $3.0m15.0k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 7.0m $1.4bn | Reduced -31.7k |
| BlackRock, Inc. 0.02% of their portfolio | 4.7m $943.9m | First filing |
| Invesco Ltd. 0.10% of their portfolio | 2.7m $534.6m | Reduced -146.0k |
| STATE STREET CORP 0.02% of their portfolio | 2.5m $502.0m | Reduced -2.0k |
| Capital Research Global Investors 0.10% of their portfolio | 2.4m $484.7m | Reduced -2.8m |
| WCM INVESTMENT MANAGEMENT, LLC 1.01% of their portfolio | 2.2m $447.5m | Reduced -6.8k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 2.1m $421.7m | Reduced -260.4k |
| Capital World Investors 0.06% of their portfolio | 1.9m $376.0m | Added +708.0k |
| FMR LLC 0.02% of their portfolio | 1.8m $365.9m | Reduced -71.2k |
| AMERIPRISE FINANCIAL INC 0.08% of their portfolio | 1.6m $310.3m | Added +1.5m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.3m $260.2m | Reduced -22.0k |
| Mitsubishi UFJ Trust & Banking Corp 0.33% of their portfolio | 720.7k $143.4m | Added +12.4k |
| NORGES BANK 0.02% of their portfolio | 703.1k $139.9m | Reduced -42.5k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 616.1k $122.6m | Reduced -68.0k |
| MORGAN STANLEY 0.01% of their portfolio | 580.5k $115.5m | Reduced -77.9k |
| Alyeska Investment Group, L.P. 0.58% of their portfolio | 569.7k $113.4m | Added +149.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 515.4k $102.6m | Added +161.0k |
| CITADEL ADVISORS LLC 0.10% of their portfolio | 501.8k $99.9m | Reduced -317.9k |
| TD Asset Management Inc 0.09% of their portfolio | 485.9k $96.9m | Reduced -109.6k |
| MANNING & NAPIER ADVISORS LLC 0.98% of their portfolio | 446.3k $88.8m | Reduced -4.7k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 424.8k $84.5m | Reduced -305.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.02% of their portfolio | 417.5k $83.1m | Added +361.4k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 406.6k $80.9m | Added +26.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.08% of their portfolio | 400.8k $79.8m | Added +202.2k |
| D. E. Shaw & Co., Inc. 0.10% of their portfolio | 369.4k $73.5m | Added +8.9k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 346.8k $69.0m | Added +4.1k |
| Legal & General Group Plc 0.02% of their portfolio | 340.6k $67.8m | Added +19.6k |
| MARSHALL WACE, LLP 0.09% of their portfolio | 339.9k $67.7m | Reduced -204.1k |
| Assenagon Asset Management S.A. 0.13% of their portfolio | 312.5k $62.2m | Added +86.9k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.24% of their portfolio | 308.5k $61.4m | Added +9.0k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.56% of their portfolio | 298.0k $59.3m | Reduced -45.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 295.7k $58.8m | Reduced -8.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 291.4k $58.0m | Added +155.5k |
| GILDER GAGNON HOWE & CO LLC 0.69% of their portfolio | 289.6k $57.6m | Reduced -19.6k |
| Baird Financial Group, Inc. 0.11% of their portfolio | 273.0k $54.3m | Added +46.0k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.05% of their portfolio | 268.8k $53.6m | Added +84.0k |
| Epoch Investment Partners, Inc. 0.22% of their portfolio | 249.9k $49.7m | Reduced -88.7k |
| Owls Nest Partners IA, LLC 12.21% of their portfolio | 240.5k $47.9m | Added +28.5k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 240.4k $47.8m | Added +76.6k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 235.3k $46.8m | Reduced -43.7k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 235.2k $46.6m | Reduced -30.8k |
| Squarepoint Ops LLC 0.15% of their portfolio | 226.4k $45.1m | Added +7.7k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 220.0k $43.8m | Added +4.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.16% of their portfolio | 217.9k $43.4m | Reduced -122.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 214.3k $42.7m | Added +16.8k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 205.0k $40.8m | Reduced -23.0k |
| TUDOR INVESTMENT CORP ET AL 0.44% of their portfolio | 199.9k $39.8m | Added +27.3k |
| Amundi 0.01% of their portfolio | 192.5k $37.6m | Added +79.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 190.2k $37.8m | Added +122.3k |
| TYBOURNE CAPITAL MANAGEMENT (HK) LTD 10.32% of their portfolio | 185.0k $36.8m | Reduced -27.6k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.22% of their portfolio | 183.6k $36.5m | Reduced -28.1k |
| CITIGROUP INC 0.03% of their portfolio | 173.7k $34.6m | Added +115.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 172.3k $34.3m | Added +69.3k |
| Swiss National Bank 0.02% of their portfolio | 171.6k $34.2m | Unchanged |
| UBS Group AG 0.01% of their portfolio | 164.6k $32.8m | Added +17.6k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 164.5k $32.7m | Added +85.5k |
| MARTIN CURRIE LTD 1.08% of their portfolio | 153.1k $30.3m | Reduced -14.0k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 152.3k $30.3m | Added +15.9k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.09% of their portfolio | 142.7k $28.4m | Added +42.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 141.3k $28.1m | Added +20.2k |
| Balyasny Asset Management L.P. 0.07% of their portfolio | 137.3k $27.3m | Added +85.8k |
| HRT FINANCIAL LP 0.15% of their portfolio | 136.1k $27.1m | New |
| BARCLAYS PLC 0.01% of their portfolio | 128.6k $25.6m | Added +14.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 127.2k $25.3m | Added +2.4k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 125.3k $25.0m | Reduced -49.5k |
| SG Capital Management LLC 3.45% of their portfolio | 119.9k $23.9m | New |
| Andra AP-fonden 0.34% of their portfolio | 115.0k $22.9m | Reduced -9.0k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 111.0k $22.1m | Added +98.2k |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 109.5k $550 | New |
| Ensign Peak Advisors, Inc 0.04% of their portfolio | 109.2k $21.7m | Reduced -2.1k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 101.4k $20.2m | Reduced -3.5k |
| California Public Employees Retirement System 0.01% of their portfolio | 95.0k $18.9m | Added +102 |
| TWINBEECH CAPITAL LP 0.36% of their portfolio | 94.9k $18.9m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 94.1k $18.7m | Added +370 |
| TWO SIGMA ADVISERS, LP 0.04% of their portfolio | 93.1k $18.5m | Added +33.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 87.6k $17.4m | Reduced -62.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 86.2k $17.2m | Added +21.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 84.3k $16.8m | Added +9.0k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 83.0k $16.5m | Added +11.2k |
| Trexquant Investment LP 0.21% of their portfolio | 81.6k $16.2m | Added +1.2k |
| EULAV Asset Management 0.39% of their portfolio | 79.7k $15.9m | Unchanged |
| Man Group plc 0.04% of their portfolio | 79.3k $15.8m | Added +35.9k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 77.7k $15.5m | Added +37.2k |
| Distillate Capital Partners LLC 0.77% of their portfolio | 77.4k $15.4m | Added +2.5k |
| Harding Loevner LP 0.09% of their portfolio | 75.8k $15.1m | Reduced -49.5k |
| Aureus Asset Management, LLC 0.96% of their portfolio | 73.4k $14.6m | Added +5.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 72.4k $14.4m | Added +51.6k |
| GENEVA CAPITAL MANAGEMENT LLC 0.24% of their portfolio | 71.3k $14.2m | Added +4.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 70.7k $14.1m | Added +848 |
| NORRIS PERNE & FRENCH LLP/MI 0.92% of their portfolio | 67.3k $13.4m | Added +14.8k |
| Woodline Partners LP 0.10% of their portfolio | 60.2k $12.0m | Added +23.7k |
| CAPITAL FUND MANAGEMENT S.A. 0.13% of their portfolio | 60.1k $12.0m | Reduced -3.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 58.3k $11.6m | Reduced -458 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 55.7k $11.1m | Added +14.1k |
| NATIXIS 0.07% of their portfolio | 55.0k $10.9m | Added +17.7k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 54.6k $10.9m | Added +427 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 52.2k $10.4m | Unchanged |
| CAMBIAR INVESTORS LLC 0.39% of their portfolio | 51.4k $10.2m | Added +3.4k |
| Arvin Capital Management LP 4.28% of their portfolio | 51.0k $10.1m | Added +14.4k |
| ICICI Prudential Asset Management Co Ltd 0.97% of their portfolio | 46.3k $9.2m | Unchanged |