American Century Companies Inc. Buys 451,862 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• American Century Companies Inc. increased its stake in Grid Dynamics Holdings, owning over 1 million shares after purchasing an additional 451,862 shares, representing a 72.7% growth in the first quarter.
• Several other institutional investors have also increased their holdings, leading to a total institutional ownership of 71.18% of the company's stock.
• Grid Dynamics' shares opened at $8.10, with a market cap of approximately $685.83 million and a reported revenue increase of 21.7% year-over-year.

American Century Companies Inc. grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,073,327 shares of the company's stock after purchasing an additional 451,862 shares during the period. American Century Companies Inc. owned about 1.28% of Grid Dynamics worth $16,798,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Grid Dynamics by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after purchasing an additional 17,881 shares during the last quarter. Nuveen LLC bought a new stake in Grid Dynamics during the first quarter worth about $19,977,000. Lord Abbett & CO. LLC lifted its stake in Grid Dynamics by 27.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,067,454 shares of the company's stock worth $16,706,000 after purchasing an additional 231,598 shares during the last quarter. Focus Partners Wealth bought a new stake in Grid Dynamics during the fourth quarter worth about $23,053,000. Finally, Fourth Sail Capital LP lifted its stake in Grid Dynamics by 52.3% during the first quarter. Fourth Sail Capital LP now owns 1,024,269 shares of the company's stock worth $16,030,000 after purchasing an additional 351,608 shares during the last quarter. Institutional investors own 71.18% of the company's stock.

Grid Dynamics Trading Up 2.7%

Shares of GDYN stock traded up $0.22 during midday trading on Friday, reaching $8.29. 1,723,067 shares of the stock were exchanged, compared to its average volume of 1,618,368. Grid Dynamics Holdings, Inc. has a 1 year low of $7.46 and a 1 year high of $25.50. The company's 50 day moving average is $9.79 and its two-hundred day moving average is $13.27. The firm has a market cap of $701.91 million, a PE ratio of 43.63 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The firm's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GDYN shares. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Needham & Company LLC lowered their target price on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $15.75.

About Grid Dynamics

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.