EPAM Systems enters accelerated share repurchase agreement to buy $300 million of its common stock.

EPAM Systems has entered into an accelerated share repurchase agreement with Morgan Stanley to repurchase $300 million of its common stock. The ASR was authorized under the company's existing $1.0 billion share repurchase authorization. EPAM's CEO, Balazs Fejes, believes the current valuation does not reflect the strength and future potential of the business, and this action is a value-enhancing use of capital.