Russia-Ukraine War is Crushing These 5 Stocks

4. EPAM Systems, Inc. (NYSE:EPAM)

Number of Hedge Fund Holders: 38  

Year-to-Date Decline in Share Price as of July 8: 48.75%

EPAM Systems, Inc. (NYSE:EPAM) provides digital platform engineering and software development services. The company has strong exposure to the Russian market. Per Forbes, a majority of the 60,000 employees of the firm come from regions in and around Russia. These countries, severely affected by the war, include Ukraine, Belarus, and Russia itself. A large correction in the value of technology stocks in the wake of soaring inflation and a rise in interest rates has hammered the shares as well. 

On June 6, Wedbush analyst Moshe Katri maintained an Outperform rating on EPAM Systems, Inc. (NYSE:EPAM) stock and raised the price target to $400 from $380, noting that moderating disruption from the Russia-Ukraine war bodes well for the results of the firm. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in EPAM Systems, Inc. (NYSE:EPAM), with 561,600 shares worth more than $166 million. 

Carillon Tower Advisers, in its Q1 2022 investor letter, mentioned EPAM Systems, Inc. (NYSE:EPAM). Here is what the fund has to say in its letter:

“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. EPAM Systems, Inc. (NYSE:EPAM) offers information technology services. The company struggled amid geopolitical instability given its 14,000 employees in Ukraine and associated operational, relocation, and travel costs. The Fund sold the stock.”