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NEWTOWN, Pa. - EPAM Systems, Inc. (NYSE: EPAM), a prominent company in digital transformation services and product engineering, disclosed today that Arkadiy Dobkin, its Principal Founder, Chairman, CEO, and President, will assume the role of Executive Chairman starting September 1, 2025. Balazs Fejes, currently the President of Global Business & Chief Revenue Officer, is set to take over as CEO and President.
Dobkin, who has been at the helm since EPAM’s inception, will continue to influence the company’s strategic direction and maintain key relationships, ensuring EPAM’s values and strategic focus remain intact. His tenure as CEO has seen the company’s expansion to over 61,000 professionals in more than 55 countries, leading EPAM to significant milestones such as its IPO on the New York Stock Exchange and inclusion in the S&P 500 Index.
Fejes, who has been with EPAM for over two decades, has played a pivotal role in the company’s growth. His tenure includes serving as the first CTO, expanding the Financial Services Business globally, and leading markets in Europe and APAC. Fejes’ appointment is part of a deliberate succession plan, aiming to maintain EPAM’s industry leadership and growth trajectory.
The announcement coincides with the release of EPAM’s first-quarter financial results for 2025. The company will host a conference call to discuss these results, available on the EPAM website.
This leadership transition is based on a press release statement from EPAM Systems, Inc.
In other recent news, EPAM Systems announced strong fourth-quarter results for 2024 and provided initial guidance for 2025, forecasting organic constant currency growth between 1% and 5%. This guidance suggests a return to growth after two years, although the company anticipates a weaker adjusted operating margin due to ongoing investments. Mizuho Securities, responding to these developments, lowered its price target for EPAM to $267 but maintained an Outperform rating, reflecting optimism about the company’s strategic initiatives and future performance. Meanwhile, EPAM expanded its collaboration with Amazon Web Services to enhance generative AI solutions, aiming to streamline enterprise processes and improve efficiency through advanced AI technologies.
Analyst firms have made several adjustments to EPAM’s stock ratings and price targets. Stifel reduced its price target to $240, maintaining a Buy rating, while Piper Sandler downgraded the stock to Neutral with a new target of $170, citing concerns about subdued demand. Guggenheim also lowered its target to $210 but kept a Buy rating, expressing confidence in EPAM’s potential for growth in 2025. These recent developments highlight the varying perspectives on EPAM’s ability to navigate current economic challenges and capitalize on emerging opportunities.
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