Royal Bank of Canada Cuts Holdings in Grid Dynamics Holdings, Inc. $GDYN

Royal Bank of Canada decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,722,663 shares of the company's stock after selling 68,690 shares during the period. Royal Bank of Canada owned 2.05% of Grid Dynamics worth $26,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Driehaus Capital Management LLC raised its position in Grid Dynamics by 23.5% during the 1st quarter. Driehaus Capital Management LLC now owns 1,080,536 shares of the company's stock valued at $16,910,000 after purchasing an additional 205,634 shares during the last quarter. Next Century Growth Investors LLC raised its position in Grid Dynamics by 10.8% during the 1st quarter. Next Century Growth Investors LLC now owns 1,798,071 shares of the company's stock valued at $28,140,000 after purchasing an additional 175,845 shares during the last quarter. Corebridge Financial Inc. raised its position in Grid Dynamics by 5.2% during the 1st quarter. Corebridge Financial Inc. now owns 32,159 shares of the company's stock valued at $503,000 after purchasing an additional 1,583 shares during the last quarter. Axiom Investors LLC DE bought a new position in Grid Dynamics during the 1st quarter valued at approximately $3,876,000. Finally, Jump Financial LLC bought a new position in Grid Dynamics during the 1st quarter valued at approximately $1,736,000. Institutional investors own 71.18% of the company's stock.

Grid Dynamics Price Performance

GDYN stock traded down $0.18 on Friday, reaching $7.58. 606,939 shares of the company traded hands, compared to its average volume of 1,220,251. Grid Dynamics Holdings, Inc. has a one year low of $7.37 and a one year high of $25.50. The company has a market cap of $641.80 million, a P/E ratio of 39.90 and a beta of 1.03. The firm has a fifty day simple moving average of $8.99 and a 200-day simple moving average of $12.38.

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 for the quarter, meeting analysts' consensus estimates of $0.10. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The company had revenue of $101.10 million during the quarter, compared to analyst estimates of $100.45 million. During the same quarter last year, the company earned $0.08 EPS. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

GDYN has been the subject of several research reports. Needham & Company LLC decreased their target price on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research 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. Finally, 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 report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grid Dynamics presently has an average rating of "Buy" and an average target price of $15.75.

Grid Dynamics 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.