Benzinga | Dec 8, 2021 05:59AM EST

Why Are EPAM Shares Trading Higher Premarket?

* EPAM Systems Inc (NYSE:EPAM) will replace Kansas City Southern (NYSE:KSU) 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% 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.

* Price Action: EPAM shares traded higher by 8.91% at $648 in the premarket session on the last check Wednesday.