SCHEDULE: BlackRock Reports 11.9% Stake in EPAM Systems

BlackRock, Inc. has disclosed a beneficial ownership of 11.9% in EPAM Systems Inc. as of June 30, 2026, primarily through its iShares Core S&P Small-Cap ETF.

Summary

• BlackRock, Inc. has filed a Schedule 13G, indicating its beneficial ownership of EPAM Systems Inc. common stock.
• The filing, dated June 30, 2026, shows BlackRock beneficially owns 6,217,584 shares, representing 11.9% of the class.
• This ownership is primarily held through the iShares Core S&P Small-Cap ETF, which has the right to receive or direct the sale of these securities.
• BlackRock's reporting business units have sole voting power over 6,093,914 shares and sole dispositive power over 6,217,584 shares.
• The filing confirms that these securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership by a major institutional investor and does not provide new operational or financial information about EPAM Systems.

Positives

• BlackRock, a significant institutional investor, holds a substantial stake in EPAM Systems, which can be viewed as a positive signal of confidence.
• The iShares Core S&P Small-Cap ETF's ownership indicates broad diversification among smaller-cap companies, potentially benefiting EPAM through sustained investor interest.

Negatives

• The filing does not contain any negative financial results or operational challenges for EPAM Systems.

Risks

• While not explicitly stated as a risk in this filing, significant ownership by a large institutional investor like BlackRock can lead to increased scrutiny and potential pressure on management regarding performance and strategy.
• The concentration of ownership within a specific ETF (iShares Core S&P Small-Cap ETF) could lead to significant selling pressure if the ETF rebalances its holdings or experiences large redemptions.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from EPAM Systems Inc. regarding its future performance.

Management Comments

• BlackRock, Inc. certifies that the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that large institutional holdings, as disclosed by BlackRock in this Schedule 13G filing for EPAM Systems, are common in the software and IT consulting sector. Such filings often signal sustained investor interest and can influence market perception.

Stakeholder Impact

• Shareholders: The significant stake held by BlackRock, particularly through an ETF, can provide a degree of stability to the stock price and may attract further institutional interest. However, large ETF rebalancing could also lead to volatility.
• Management: While BlackRock certifies it is not seeking to influence control, its substantial ownership means EPAM's management will likely remain attentive to performance metrics and strategic decisions that align with institutional investor expectations.

Next Steps

• BlackRock will continue to hold its shares in EPAM Systems, subject to its investment strategy and any potential changes in its holdings.
• EPAM Systems will continue its business operations, with BlackRock as a significant shareholder.

Key Dates

Keywords

EPAM Systems, BlackRock, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, iShares Core S&P Small-Cap ETF, SEC Filing, Investment Management