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# EPAM Systems: Out Of Its Depth (Archive)
- URL: https://www.huntingalphas.com/epam-systems-out-of-its-depth-archive/
- Published: 2023-05-08T08:34:00.000Z
- Updated: 2026-02-26T15:37:56.000Z
- Description: EPAM is really struggling and out of its depth in today’s IT services environment.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, EPAM, Tech

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- In my last article on EPAM, I correctly noted that the growth engine is slowing but incorrectly believed it was all 'priced in'. The stock is down almost 27% since.
- EPAM had a bad Q1 FY23 quarter and an even worse outlook.
- EPAM is out of its depth and losing share.
- Management is implicitly guiding for further margin contraction.
- I downgrade the stock to a 'sell' as I wait for the QoQ growth declines and margins to stabilize before a re-entry.

Read the full article [here](https://seekingalpha.com/article/4601429-epam-systems-out-of-its-depth-rating-downgrade?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*