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Should You Hold EPAM Systems (EPAM)?

Harding Loevner, an asset management company, released its “Frontier Emerging Markets Equity Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 5.72% gross of fees compared to a 9.23% return for the MSCI Frontier Emerging Markets Index. The fund returned -17.23% gross of fees for the year compared to -17.84% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Harding Loevner Frontier Emerging Markets Equity Strategy highlighted stocks like EPAM Systems, Inc. (NYSE:EPAM) in the Q4 2022 investor letter. Headquartered in Newtown, Pennsylvania, EPAM Systems, Inc. (NYSE:EPAM) is a digital platform engineering and software development services provider. On March 16, 2023, EPAM Systems, Inc. (NYSE:EPAM) stock closed at $279.93 per share. One-month return of EPAM Systems, Inc. (NYSE:EPAM) was -17.23%, and its shares lost 4.94% of their value over the last 52 weeks. EPAM Systems, Inc. (NYSE:EPAM) has a market capitalization of $16.146 billion.

Harding Loevner Frontier Emerging Markets Equity Strategy made the following comment about EPAM Systems, Inc. (NYSE:EPAM) in its Q4 2022 investor letter:

"As was the case in the fourth quarter, IT investments detracted most. Eastern European IT servicing firm EPAM Systems, Inc. (NYSE:EPAM) plunged in the first quarter as a general sell-off of expensive, high-growth stocks was compounded by its specific business continuity risk: nearly 60% of the company's workforce was based in Ukraine, Belarus, and Russia at the start of the Russia-Ukraine conflict. The company navigated the crisis well, relocating many of its engineers out of the impacted region, while retaining most of its existing customers and winning new ones. Shares have rebounded modestly over the course of the year, although not sufficiently to offset the initial sharp decline."

EPAM Systems, Inc. (NYSE:EPAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held EPAM Systems, Inc. (NYSE:EPAM) at the end of the fourth quarter which was 34 in the previous quarter.

We discussed EPAM Systems, Inc. (NYSE:EPAM) in another article and shared the list of largest software companies in the world by revenue. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.