Epam Systems continues to trade on news related to Russia's invasion of Ukraine. EPAM stock jumped on Tuesday with cease-fire talks between Russia and Ukraine underway in Turkey.
Shares popped 11.6% to close at 307.05 on the stock market today. U.S. stock exchanges also rose on hopes for a Russia-Ukraine cease-fire.
Despite its gain, Epam stock is still down 52% in 2022. EPAM stock may have bottomed at 168.59 in intraday trading on March 8.
The Newtown, Pa.-based custom software maker hires most of its developers in Eastern Europe, with most of its offshore centers in Belarus, Ukraine, Russia and Hungary.
EPAM Stock: Exposure To Ukraine, Belarus
As of the fourth quarter in 2021, 41% of Epam's employees delivered services from Ukraine and Belarus, down about 10% from a year earlier, according to a Susquehanna Financial report. Further, the company has stepped up hiring in other regions.
Epam provides custom software development and platform engineering services. It specializes in digital services, with customers adopting new technologies such as cloud computing or big data analytics.
Meanwhile, Arkadiy Dobkin has been Epam's chief executive since late 2002. Dobkin began his career in Belarus and Russia, where he worked at several software companies.
Dobkin co-founded Epam in 1993. Originally the company was called Effective Programming for America.
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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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