WCM Investment Management Cuts EPAM Stake to 7.1%

Ticker: EPAM · Form: SC 13G/A · Filed: 2024-01-30T00:00:00.000Z

Sentiment: mixed

Topics: institutional-ownership, stake-change, amendment, investment-firm

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

What is the purpose of this SC 13G/A filing?

This SC 13G/A is an amendment filed by WCM Investment Management, LLC to update their beneficial ownership of common stock in EPAM Systems, Inc. as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the reporting person in this filing?

The reporting person is WCM Investment Management, LLC, an investment management company based in Laguna Beach, CA, and incorporated in Delaware.

What percentage of EPAM Systems, Inc. common stock does WCM Investment Management, LLC beneficially own?

As of December 31, 2023, WCM Investment Management, LLC beneficially owns 7.1% of the common stock of EPAM Systems, Inc.

How many shares of EPAM Systems, Inc. common stock does WCM Investment Management, LLC beneficially own?

WCM Investment Management, LLC beneficially owns 4,217,316 shares of EPAM Systems, Inc. common stock.

What is the CUSIP number for EPAM Systems, Inc. securities mentioned in this filing?

The CUSIP number for EPAM Systems, Inc. common stock is 29414B104.

From the Filing

0001062993-24-001551.txt : 20240130 0001062993-24-001551.hdr.sgml : 20240130 20240130120743 ACCESSION NUMBER: 0001062993-24-001551 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240130 DATE AS OF CHANGE: 20240130 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EPAM Systems, Inc. CENTRAL INDEX KEY: 0001352010 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] ORGANIZATION NAME: 06 Technology IRS NUMBER: 223536104 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-86978 FILM NUMBER: 24576722 BUSINESS ADDRESS: STREET 1: 41 UNIVERSITY DRIVE STREET 2: SUITE 202 CITY: NEWTOWN STATE: PA ZIP: 18940 BUSINESS PHONE: (267) 759-9000 MAIL ADDRESS: STREET 1: 41 UNIVERSITY DRIVE STREET 2: SUITE 202 CITY: NEWTOWN STATE: PA ZIP: 18940 FORMER COMPANY: FORMER CONFORMED NAME: EPAM SYSTEMS INC DATE OF NAME CHANGE: 20060202 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WCM INVESTMENT MANAGEMENT, LLC CENTRAL INDEX KEY: 0001061186 ORGANIZATION NAME: IRS NUMBER: 953046237 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 281 BROOKS STREET CITY: LAGUNA BEACH STATE: CA ZIP: 92651 BUSINESS PHONE: 9493800200 MAIL ADDRESS: STREET 1: 281 BROOKS STREET CITY: LAGUNA BEACH STATE: CA ZIP: 92651 FORMER COMPANY: FORMER CONFORMED NAME: WCM INVESTMENT MANAGEMENT/CA DATE OF NAME CHANGE: 19990324 SC 13G/A 1 formsc13ga.htm FORM SC 13G/A WCM Investment Management: Form SC 13G/A - Filed by newsfilecorp.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3)* EPAM Systems, Inc. (Name of Issuer) Common (Title of Class of Securities) 29414B104 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed:   [X]  Rule 13d-1(b)   [_]  Rule 13d-1(c)   [_]  Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ). SCHEDULE 13G CUSIP No. 29414B104 1 Names of Reporting Persons WCM Investment Management, LLC 2 Check the appropriate box if a member of a Group (see instructions) (a)  [ ] (b)  [ ] 3 Sec Use Only   4 Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 2,502,390 6 Shared Voting Power 0 7 Sole Dispositive Power 2,502,390 8 Shared Dispositive Power 0 9 Aggregate Amount Beneficially Owned by Each Reporting Person 2,502,390 10 Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) [ ] 11 Percent of class represented by amount in row (9) 4.3% 12 Type of Reporting Person (See Instructions) IA Page 2 of 5 Item 1.   (a)   Name of Issuer: EPAM Systems, Inc. (b)   Address of Issuer's Principal Executive Offices: 41 University Drive, Suite 202, Newtown, Pennsylvania 18940 Item 2.   (a)   Name of Person Filing: WCM Investment Management, LLC (b)   Address of Principal Business Office or, if None, Residence:  281 Brooks Street, Laguna Beach, California 92651 (c)   Citizenship:   Delaware (d)   Title and Class of Securities: Common (e)   CUSIP No.:   29414B104 Item 3.   If this statement is filed pursuant to