SGActivist hedge fund Engine Capital, which holds a 1.5% stake in EPAM Systems, is urging the software company to increase share buybacks or consider a sale due to declining stock prices linked to concerns over AI disruption. Managing partner Arnaud Ajdler suggested using the company’s $750 million cash reserves, future free cash flow, and debt to enhance buybacks. If these measures fail, he recommended initiating a strategic review led by independent directors and a financial advisor. EPAM and Engine Capital did not comment on the report, which was first shared by the Financial Times. EPAM shares rose 2.2% in premarket trading but are down approximately 44% year-to-date.
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