Should You Consider to Add EPAM Systems (EPAM) Stock to Your Portfolio?

Harding Loevner, an asset management company, released its “Emerging Markets Equity Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -10.19% net of fees compared to a -11.42% decline for the MSCI Emerging Markets Index. Strategy’s outperformance in the quarter was attributed to positive stock selection in Consumer Discretionary, Information Technology, and Financials sectors and overweight exposure to Latin America. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Harding Loevner highlighted stocks like EPAM Systems, Inc. (NYSE:EPAM) in its Q3 2022 investor letter. Headquartered in Newtown, Pennsylvania, EPAM Systems, Inc. (NYSE:EPAM) is a global digital platform engineering and software development services provider. On December 12, 2022, EPAM Systems, Inc. (NYSE:EPAM) stock closed at $345.90 per share. One-month return of EPAM Systems, Inc. (NYSE:EPAM) was -1.77%, and its shares lost 47.84% of their value over the last 52 weeks. EPAM Systems, Inc. (NYSE:EPAM) has a market capitalization of $19.894 billion.

Harding Loevner made the following comment about EPAM Systems, Inc. (NYSE:EPAM) in its Q3 2022 investor letter:

“Meanwhile, in IT, the strongest contributors were EPAM Systems, Inc. (NYSE:EPAM), a software-engineering company with a large workforce in Eastern Europe, and Network International, a payments processor used in the Middle East and Africa. EPAM’s impressive revenue growth has held up despite having to relocate engineers away from Russia and ramp up hiring in places such as India. Network International’s sales growth surpassed expectations as new merchants adopted its credit card processing system.”

EPAM Systems, Inc. (NYSE:EPAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held EPAM Systems, Inc. (NYSE:EPAM) at the end of the third quarter, which was 36 in the previous quarter.

We discussed EPAM Systems, Inc. (NYSE:EPAM) in another article and shared the Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 11 Best Fashion Stocks To Buy
• Most Volatile Stocks Under $5 For Day Trading
• Stan Druckenmiller Portfolio

Disclosure: None. This article is originally published at Insider Monkey.