RTTNews | Dec 8, 2021 09:51AM EST

09:51 Wednesday, December 8, 2021 (RTTNews.com) - Shares of EPAM Systems, Inc. (EPAM) jumped over 10% on Wednesday morning on the news that the software development services company is set to join S&P 500.

EPAM is currently trading at $656.53, up $61.53 or 10.34%, on the Nasdaq. The stock has traded between $314.08 and $725.40 in the 52-week period.

EPAM Systems will replace Kansas City Southern (KSU) in the S&P 500 effective prior to the opening of trading on Tuesday, December 14. Canadian Pacific Railway Ltd. (CP, CP.TO) is acquiring Kansas City Southern in a transaction expected to be completed on or about that date pending final approvals.

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