CenterBook Partners LP Takes $1.79 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

CenterBook Partners LP bought a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 114,584 shares of the company’s stock, valued at approximately $1,793,000. CenterBook Partners LP owned about 0.14% of Grid Dynamics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GDYN. Vanguard Group Inc. boosted its stake 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 valued at $123,110,000 after purchasing an additional 1,171,481 shares during the period. Dimensional Fund Advisors LP raised its holdings in Grid Dynamics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company’s stock valued at $40,399,000 after buying an additional 17,881 shares during the last quarter. Next Century Growth Investors LLC boosted its position in Grid Dynamics by 78.1% during the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company’s stock valued at $36,078,000 after buying an additional 711,150 shares during the period. Geode Capital Management LLC grew its holdings in Grid Dynamics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company’s stock worth $31,895,000 after acquiring an additional 52,344 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Grid Dynamics in the fourth quarter valued at about $23,053,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GDYN shares. 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 cut their price objective on Grid Dynamics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $17.50.

Grid Dynamics Price Performance

Shares of GDYN opened at $7.92 on Thursday. Grid Dynamics Holdings, Inc. has a one year low of $7.53 and a one year high of $25.50. The company has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $15.02. The firm has a market capitalization of $669.21 million, a PE ratio of 41.66 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $101.10 million for the quarter, compared to analyst estimates of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. Analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal 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.