EPAM Systems plans up to $1B share buyback program

[Stock Buyback Stock Trading Chart 3D Background]
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EPAM Systems (NYSE:EPAM [https://seekingalpha.com/symbol/EPAM]) said its board authorized a new stock buyback program of up to $1B worth of the company's shares.

EPAM noted [https://seekingalpha.com/pr/20272815-epam-announces-new-1b-share-repurchase-program] that the share repurchase program will have a term of 24 months, but it could be suspended or discontinued at any time.

"We remain confident in the underlying strength of our business reflected by three quarters of improving year-over-year organic constant currency revenue growth. With efficient free cash flow generation and a strong balance sheet, we can take advantage of the current market dynamic and return cash to shareholders, while also making ongoing investments in our business and AI Agenda," said Jason Peterson, CFO, SVP & Treasurer at EPAM.

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