Northern Trust Corp Grows Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Northern Trust Corp raised its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 851,727 shares of the company's stock after purchasing an additional 106,193 shares during the period. Northern Trust Corp owned 1.03% of Grid Dynamics worth $18,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDYN. Loomis Sayles & Co. L P bought a new stake in Grid Dynamics in the fourth quarter valued at $55,114,000. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after acquiring an additional 1,171,481 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Grid Dynamics during the fourth quarter worth about $22,192,000. Next Century Growth Investors LLC increased its position in shares of Grid Dynamics by 78.1% during the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after acquiring an additional 711,150 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Grid Dynamics during the fourth quarter worth about $15,542,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded up $0.10 during midday trading on Monday, hitting $14.07. 439,250 shares of the company's stock were exchanged, compared to its average volume of 630,626. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The company has a market cap of $1.19 billion, a PE ratio of 351.75 and a beta of 1.13. The stock has a 50 day moving average price of $14.59 and a 200-day moving average price of $18.17.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.42 million for the quarter, compared to analysts' expectations of $98.19 million. During the same period in the previous year, the company earned $0.10 earnings per share. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC boosted their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $17.60.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer now directly owns 474,269 shares in the company, valued at $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by insiders.

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.