CenterBook Partners LP Takes 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 purchased a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Coppell Advisory Solutions LLC purchased a new position in shares of Grid Dynamics in the fourth quarter worth $25,000. PNC Financial Services Group Inc. increased its position in Grid Dynamics by 199.0% during 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 during the period. USA Financial Formulas purchased a new position in Grid Dynamics during the 1st quarter valued at $42,000. Johnson Financial Group Inc. bought a new stake in shares of Grid Dynamics during the 4th quarter valued at $70,000. Finally, Cetera Investment Advisers bought a new stake in shares of Grid Dynamics during the 4th quarter valued at $200,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC dropped their target price on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Grid Dynamics presently has a consensus rating of "Buy" and a consensus price target of $17.50.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded down $0.34 during trading on Friday, hitting $7.68. The company's stock had a trading volume of 1,270,340 shares, compared to its average volume of 1,218,930. The company has a 50-day moving average of $10.98 and a 200-day moving average of $14.84. Grid Dynamics Holdings, Inc. has a 12 month low of $7.53 and a 12 month high of $25.50. The firm has a market cap of $650.27 million, a price-to-earnings ratio of 40.42 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $100.45 million. During the same quarter last year, the business earned $0.08 EPS. The firm'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 earnings per share for the current year.

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.