EPAM Systems Launches $300M Accelerated Share Repurchase, Retains $452.5M Authorization
EPAM Systems has initiated a $300 million accelerated share repurchase with Morgan Stanley under its existing $1.0 billion authorization, delivering 1,703,336 shares valued at $240 million at March 4 closing price. The company retains $452.5 million remaining in its buyback program to return value to shareholders.
1. EPAM Systems Initiates $300M Accelerated Repurchase
EPAM Systems has entered a $300 million accelerated share repurchase agreement with Morgan Stanley under its $1 billion authorization, making an initial payment and receiving 1,703,336 shares valued at $240 million based on the March 4 closing price. CEO Balazs Fejes called the buyback a value-enhancing use of capital.
2. Remaining Authorization and Capital Allocation
Following the initial transaction, EPAM retains $452.5 million available for future repurchases under its current program, demonstrating its commitment to returning capital to shareholders. The move comes as the company prepares for its next earnings report on May 7, with analysts forecasting $2.47 in EPS and $1.40 billion in revenue.