On September 15, EPAM Systems Inc rose 5.92% in regular trading, trading at $125.12 per share, with turnover of approximately $47.90 million. The rally was driven by continued momentum from activist hedge fund Engine Capital's campaign targeting the company's capital allocation and governance.

Engine Capital, which disclosed a roughly 1.5% stake in EPAM Systems, sent a letter to the board asserting that the stock suffers from a \"substantial valuation discount.\" The firm urged the board to immediately execute a $750 million accelerated share repurchase program funded by existing cash and ongoing free cash flow. Engine further stated that if the board is \"unwilling\" to pursue aggressive buybacks, it should initiate a formal review of strategic alternatives, including a possible sale of the company. The activist also called for board reconstitution, the establishment of a capital allocation committee, and executive compensation reform.

The broader IT Consulting and Other Services sector saw widespread gains on the session. Among peers, Gartner rose 7.72%, Cognizant Technology Solutions gained 6.57%, Accenture PLC advanced 4.82%, Infosys climbed 4.38%, and IBM added 2.99%.

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