Quantbot Technologies LP Buys 63,961 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Quantbot Technologies LP increased its holdings in Grid Dynamics Holdings, Inc. by 151.3% in the first quarter, acquiring an additional 63,961 shares to total 106,238 shares worth approximately $1.66 million.
• Grid Dynamics reported earnings of $0.10 per share for the last quarter, matching analyst expectations and showing a revenue increase of 21.7% year-over-year.
• Despite positive earnings, several analysts have lowered their price targets for GDYN, with Needham & Company reducing its target from $20.00 to $15.00.

Quantbot Technologies LP boosted its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 151.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,238 shares of the company's stock after buying an additional 63,961 shares during the quarter. Quantbot Technologies LP owned about 0.13% of Grid Dynamics worth $1,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of 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 in the last quarter. Nuveen LLC bought a new position in Grid Dynamics in the 1st quarter valued at approximately $19,977,000. American Century Companies Inc. raised its stake in Grid Dynamics by 72.7% during the first quarter. American Century Companies Inc. now owns 1,073,327 shares of the company's stock worth $16,798,000 after buying an additional 451,862 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Grid Dynamics by 27.7% in 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 period. Finally, Focus Partners Wealth bought a new position in shares of Grid Dynamics during the fourth quarter valued at about $23,053,000. Institutional investors own 71.18% of the company's stock.

Analyst Ratings Changes

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

Grid Dynamics Stock Up 1.4%

Shares of GDYN stock traded up $0.11 during trading hours on Wednesday, hitting $8.11. 217,543 shares of the company were exchanged, compared to its average volume of 842,593. The firm has a fifty day moving average of $10.00 and a 200 day moving average of $13.58. The firm has a market cap of $686.93 million, a PE ratio of 42.63 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 1 year low of $7.46 and a 1 year high of $25.50.

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

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.