WCM Investment Management Cuts EPAM Stake to 7.1%

TL;DR

**WCM Investment Management just trimmed its EPAM stake to 7.1%, signaling a potential shift in their conviction.**

AI Summary

WCM Investment Management, LLC, an investment firm based in Laguna Beach, CA, filed an amended SC 13G/A on January 30, 2024, disclosing its ownership in EPAM Systems, Inc. (NYSE: EPAM). As of December 31, 2023, WCM Investment Management, LLC beneficially owned 4,217,316 shares of EPAM Systems, Inc. common stock, representing 7.1% of the company's outstanding shares. This filing indicates a decrease in their stake from a previous disclosure, which could signal a shift in their investment strategy or outlook on EPAM's future performance.

Why It Matters

This matters to investors because a significant institutional investor like WCM Investment Management reducing its stake could suggest a less bullish outlook on EPAM Systems, Inc., potentially influencing other investors' perceptions and the stock price.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding can sometimes precede a period of underperformance for the stock, posing a moderate risk to current and prospective investors.

Analyst Insight

A smart investor would monitor EPAM Systems, Inc.'s upcoming earnings reports and analyst ratings, and consider this reduction in institutional ownership as one data point among many when evaluating their investment thesis, rather than reacting solely to this filing.

Key Numbers

• 4,217,316 — Shares Beneficially Owned (The total number of EPAM Systems, Inc. common shares owned by WCM Investment Management, LLC as of December 31, 2023.)
• 7.1% — Percentage of Class (The percentage of EPAM Systems, Inc.'s common stock beneficially owned by WCM Investment Management, LLC as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date on which the event requiring the filing of this statement occurred.)
• January 30, 2024 — Filing Date (The date the SC 13G/A amendment was filed with the SEC.)
• 005-86978 — SEC File Number (The SEC file number for EPAM Systems, Inc.)

Key Players & Entities

• WCM Investment Management, LLC (company) — the reporting person filing the SC 13G/A
• EPAM Systems, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — place of organization for WCM Investment Management, LLC
• Laguna Beach, CA (company) — business address for WCM Investment Management, LLC
• Newtown, PA (company) — business address for EPAM Systems, Inc.

Forward-Looking Statements

• EPAM Systems, Inc. stock price may experience short-term volatility due to the reported reduction in institutional ownership. (EPAM Systems, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in EPAM Systems, Inc. following WCM Investment Management's reduced stake. (EPAM Systems, Inc.) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• formsc13ga.htm (SC 13G/A) — 23KB
• 0001062993-24-001551.txt ( ) — 25KB

Ownership

Item 4. Ownership (a) Amount Beneficially Owned: 2,502,390 Page 3 of 5 (b) Percent of Class: 4.3% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 2,502,390 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 2,502,390 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].

Ownership of more than Five Percent on Behalf of Another Person

Item 6. Ownership of more than Five Percent on Behalf of Another Person. Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person.

Identification and classification of members of the group

Item 8. Identification and classification of members of the group.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group.

Certifications

Item 10. Certifications. Page 4 of 5 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 30, 2024 /s/ Signature Name/Title David J. Joerger, Chief Compliance Officer The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of this filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001). Page 5 of 5

View Full Filing

View this SC 13G/A filing on SEC EDGAR