Royce & Associates LP Takes Position in Grid Dynamics Holdings, Inc. $GDYN

Royce & Associates LP purchased a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 661,131 shares of the company’s stock, valued at approximately $5,970,000.

A number of other institutional investors also recently added to or reduced their stakes in GDYN. Amundi purchased a new position in Grid Dynamics in the first quarter worth approximately $252,000. AQR Capital Management LLC lifted its stake in Grid Dynamics by 32.4% in the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock worth $242,000 after acquiring an additional 3,791 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Grid Dynamics by 12.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after acquiring an additional 4,116 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Grid Dynamics by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after acquiring an additional 35,204 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Grid Dynamics by 35.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after acquiring an additional 42,801 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Trading Down 2.3%

GDYN stock opened at $7.20 on Friday. Grid Dynamics Holdings, Inc. has a twelve month low of $5.13 and a twelve month high of $12.90. The company’s 50 day moving average is $6.14 and its two-hundred day moving average is $7.50. The stock has a market cap of $602.14 million, a P/E ratio of 144.03 and a beta of 0.86.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The company had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northland Securities decreased their price target on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Weiss Ratings downgraded shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Needham & Company LLC decreased their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.40.

Grid Dynamics Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.