Northern Trust Corp Acquires 31,099 Shares of 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 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 882,826 shares of the company's stock after acquiring an additional 31,099 shares during the period. Northern Trust Corp owned approximately 1.05% of Grid Dynamics worth $13,816,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock valued at $27,000 after acquiring an additional 1,689 shares during the period. PNC Financial Services Group Inc. raised its position 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 acquiring an additional 1,526 shares during the period. USA Financial Formulas acquired a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $42,000. Cetera Investment Advisers raised its position 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 acquiring an additional 2,640 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $183,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Up 2.5%

NASDAQ GDYN opened at $8.21 on Thursday. Grid Dynamics Holdings, Inc. has a 12-month low of $7.46 and a 12-month high of $25.50. The company has a market capitalization of $695.14 million, a PE ratio of 43.21 and a beta of 1.03. The firm's 50 day moving average is $9.58 and its 200-day moving average is $13.03.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted 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. 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 the consensus estimate of $100.45 million. During the same period last year, the company earned $0.08 earnings per share. The firm's revenue was up 21.7% compared to the same quarter last year. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GDYN. JPMorgan Chase & Co. cut their price target on shares of Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, 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. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus 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.

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