EPAM Systems rises as Engine Capital pushes for share buyback boost or sale
EPAM•EPAM•EPAM•EPAM•** Shares of EPAM Systems EPAM.N up 1.2% at $116.14
** Software provider says activist hedge fund Engine Capital, which owns about 1.5% of EPAM, sends a letter to co's board
** In the letter, Engine Capital highlights co's undervaluation and urges the initiation of a $750 mln accelerated stock buyback program
** "If the Board does not have the confidence to aggressively repurchase shares, initiate a review of strategic alternatives, including a sale of the Company" — Engine Capital
** As of last close, EPAM down ~44% this year
