Royce & Associates LP Increases Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Royce & Associates LP grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 802,101 shares of the company’s stock after purchasing an additional 44,720 shares during the quarter. Royce & Associates LP’s holdings in Grid Dynamics were worth $11,229,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in GDYN. Silvercrest Asset Management Group LLC grew its stake in Grid Dynamics by 43.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock worth $7,429,000 after buying an additional 182,052 shares during the last quarter. Comerica Bank grew its position in shares of Grid Dynamics by 198.8% during the first quarter. Comerica Bank now owns 77,820 shares of the company’s stock worth $956,000 after acquiring an additional 51,778 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after acquiring an additional 64,300 shares during the period. Fourth Sail Capital LP raised its position in Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Grid Dynamics during the 3rd quarter worth $1,143,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Down 4.6 %

Shares of GDYN stock opened at $16.25 on Friday. The stock has a 50 day simple moving average of $15.19 and a 200-day simple moving average of $12.72. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 541.67 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $19.86.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. Grid Dynamics’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GDYN. TD Cowen upped their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC increased their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $17.50.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the transaction, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the sale, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 950,387 shares of company stock worth $12,239,324 over the last 90 days. Company insiders own 7.40% of the company’s stock.

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.