Why Are EPAM Shares Trading Higher Premarket?

A wagon of a freight train of the Kansas City Southern Railway Company is pictured in Toluca, Mexico on Oct. 1, 2018. (Edgard Garrido/Reuters)

EPAM Systems Inc. will replace Kansas City Southern in the S&P 500 effective before trading on December 14.

EPAM provides software product development and digital platform engineering services to global clients.

Last month, EPAM reported third-quarter FY21 revenue growth of 51.6 percent year-on-year to $988.5 million, beating consensus. Non-GAAP EPS of $2.42 beat the consensus of $2.22.

EPAM sees Q4 revenue of $1.075 billion–$1.085 billion, above the consensus of $1.04 billion. It sees non-GAAP EPS of $2.44–$2.51, above the consensus of $2.34.

Canadian Pacific Railway Limited will acquire Kansas City Southern subject to pending approvals.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.