Summit Creek Advisors LLC Buys 199,324 Shares of Grid Dynamics Holdings, Inc. $GDYN

Summit Creek Advisors LLC raised its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 27.5% in the fourth quarter, Holdings Channel reports. The fund owned 923,757 shares of the company’s stock after acquiring an additional 199,324 shares during the period. Summit Creek Advisors LLC’s holdings in Grid Dynamics were worth $8,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Grid Dynamics during the third quarter valued at $31,000. GAMMA Investing LLC lifted its holdings in shares of Grid Dynamics by 273.2% during the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after acquiring an additional 2,634 shares during the period. Quarry LP lifted its holdings in shares of Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock valued at $37,000 after acquiring an additional 1,757 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Grid Dynamics during the second quarter valued at $43,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Grid Dynamics by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock valued at $47,000 after acquiring an additional 1,742 shares during the period. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $7.12 on Thursday. Grid Dynamics Holdings, Inc. has a twelve month low of $5.13 and a twelve month high of $13.85. The firm has a market cap of $595.45 million, a PE ratio of 142.43 and a beta of 0.86. The business has a fifty day moving average of $6.02 and a 200-day moving average of $7.57.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $103.32 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings cut Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Needham & Company LLC cut their price objective on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on 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, Northland Securities lowered their target price on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

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.