Northern Trust Corp Has $13.82 Million Stake in Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Northern Trust Corp increased its stake in Grid Dynamics Holdings by 3.7%, acquiring an additional 31,099 shares, which brings its total ownership to approximately 1.05% of the company.
• Several hedge funds showed significant increases in their positions, including Caitong International Asset Management which raised its stake by 28,150%, and PNC Financial Services Group which increased its ownership by 199%.
• Grid Dynamics reported a 21.7% revenue increase year-over-year with earnings meeting analyst expectations, and it projects a 0.18 EPS for the current year.

Northern Trust Corp lifted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 882,826 shares of the company's stock after buying an additional 31,099 shares during the quarter. Northern Trust Corp owned approximately 1.05% of Grid Dynamics worth $13,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System grew its holdings in Grid Dynamics by 35.1% in the 1st quarter. New York State Teachers Retirement System now owns 17,903 shares of the company's stock valued at $280,000 after buying an additional 4,656 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in shares of Grid Dynamics during the 1st quarter valued at approximately $546,000. SG Americas Securities LLC raised its position in shares of Grid Dynamics by 426.8% during the 1st quarter. SG Americas Securities LLC now owns 57,363 shares of the company's stock valued at $898,000 after acquiring an additional 46,475 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Grid Dynamics by 3.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 91,624 shares of the company's stock worth $1,434,000 after buying an additional 3,209 shares during the period. Finally, Principal Financial Group Inc. increased its position in Grid Dynamics by 2.4% in the first quarter. Principal Financial Group Inc. now owns 324,145 shares of the company's stock worth $5,073,000 after buying an additional 7,544 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Price Performance

Shares of GDYN traded down $0.07 on Tuesday, reaching $7.78. 97,549 shares of the stock traded hands, compared to its average volume of 862,102. The firm has a market cap of $658.90 million, a price-to-earnings ratio of 41.03 and a beta of 1.03. Grid Dynamics Holdings, Inc. has a 12 month low of $7.46 and a 12 month high of $25.50. The stock's 50-day moving average price is $9.35 and its 200-day moving average price is $12.62.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC lowered their price target on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. decreased 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. Finally, Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grid Dynamics currently has an average rating of "Buy" and a consensus price target 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.