CenterBook Partners LP Takes $1.79 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Key Points

• CenterBook Partners LP acquired a new position in Grid Dynamics Holdings, Inc. by purchasing 114,584 shares valued at approximately $1.79 million, representing about 0.14% ownership of the company.
• Vanguard Group Inc. significantly increased its stake in Grid Dynamics by 26.8% during the fourth quarter, now holding over 5.5 million shares valued at approximately $123.1 million.
• Analysts have mixed ratings for GDYN, with one firm lowering its rating from "buy" to "hold", while the stock has an average target price of $17.50 with four analysts rating it as a buy.

CenterBook Partners LP bought a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 114,584 shares of the company's stock, valued at approximately $1,793,000. CenterBook Partners LP owned approximately 0.14% of Grid Dynamics as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at about $25,000. PNC Financial Services Group Inc. raised its stake in shares of Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock valued at $36,000 after purchasing an additional 1,526 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Grid Dynamics in the 1st quarter valued at about $42,000. Johnson Financial Group Inc. acquired a new stake in shares of Grid Dynamics in the 4th quarter valued at about $70,000. Finally, Cetera Investment Advisers raised its stake in shares of Grid Dynamics by 29.3% in the 1st quarter. Cetera Investment Advisers now owns 11,639 shares of the company's stock valued at $182,000 after purchasing an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN traded up $0.11 during trading hours on Monday, hitting $7.79. The stock had a trading volume of 385,107 shares, compared to its average volume of 801,370. The stock's fifty day simple moving average is $10.98 and its 200 day simple moving average is $14.75. Grid Dynamics Holdings, Inc. has a 1-year low of $7.53 and a 1-year high of $25.50. The firm has a market capitalization of $659.58 million, a price-to-earnings ratio of 41.16 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. The company had revenue of $101.10 million for the quarter, compared to analyst estimates of $100.45 million. During the same quarter last year, the business earned $0.08 earnings per share. Grid Dynamics's revenue was up 21.7% compared to the same quarter last year. As a group, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GDYN shares. Wall Street Zen lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Needham & Company LLC dropped their price objective on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $17.50.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.