On October 2, EPAM Systems Inc fell 5.05% in regular trading, trading at $108.58/share, with turnover of approximately $56.01 million. The decline occurred amid a broad sell-off across the IT Consulting and Other Services sector.

Within the sector, Accenture PLC led the downturn with a 6.1% drop, while Cognizant Technology Solutions fell 3.3%, Infosys declined 2.69%, IBM slid 1.59%, and Quantinuum edged lower by 0.64%. The sector-wide weakness reflects persistent concerns over soft discretionary IT spending by enterprise clients, a theme highlighted by Morgan Stanley, which noted that deal delays and prolonged customer decision-making have pressured companies like EPAM throughout the year.

EPAM had already faced headwinds after lowering its full-year revenue outlook in August, citing continued weakness in North America. JPMorgan downgraded the stock to neutral in late August, while William Blair and Jefferies had also cut their ratings earlier. The company has been under pressure from activist investor Engine Capital, which acquired a 1.5% stake and called for a $750 million accelerated buyback or a potential sale of the company.

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