Movement Alert｜Epam Systems Rises 5.58% in Regular Trading, Officially Added to S&P SmallCap 600 Index

Market Focus06-02

On June 2, Epam Systems rose 5.58% in regular trading, trading at $108.4/share, with trading volume of $76.20 million. The stock rallied as it was officially added to the S&P SmallCap 600 index before the market open.

S&P Dow Jones Indices previously announced that FedEx Freight would join the S&P 500 effective June 2 following its spinoff from FedEx, with EPAM Systems being removed from the S&P 500 to make room. Simultaneously, EPAM was added to the S&P SmallCap 600, replacing Shutterstock, which is expected to be acquired in a deal closing soon. The index reconstitution likely triggered buying from SmallCap 600 tracking funds.

Notably, Jefferies recently downgraded EPAM from Buy to Hold, cutting its target price from $130 to $110. However, the FactSet consensus among analysts maintains an average target of $147.38, suggesting the current share price remains significantly below broader market expectations. The stock continues to trade at a notable discount to the analyst consensus despite the intraday advance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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