CenterBook Partners LP Raises Holdings in Grid Dynamics Holdings, Inc. $GDYN

CenterBook Partners LP raised its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 169.1% in the second quarter, Holdings Channel.com reports. The fund owned 308,317 shares of the company’s stock after buying an additional 193,733 shares during the quarter. CenterBook Partners LP’s holdings in Grid Dynamics were worth $3,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after purchasing an additional 1,689 shares during the period. PNC Financial Services Group Inc. increased its position in Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after purchasing an additional 1,526 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Grid Dynamics in the second quarter valued at approximately $117,000. Cetera Investment Advisers lifted its position in Grid Dynamics by 29.3% during the first quarter. Cetera Investment Advisers now owns 11,639 shares of the company’s stock valued at $182,000 after buying an additional 2,640 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Grid Dynamics during the first quarter worth approximately $183,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on GDYN shares. JPMorgan Chase & Co. decreased their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Needham & Company LLC dropped their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group assumed coverage on shares of Grid Dynamics in a research report on Monday, September 22nd. They issued a “buy” rating and a $11.00 price objective for the company. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Grid Dynamics Stock Up 5.8%

GDYN opened at $8.58 on Friday. The company’s 50-day moving average price is $8.13 and its 200 day moving average price is $9.78. Grid Dynamics Holdings, Inc. has a fifty-two week low of $7.37 and a fifty-two week high of $25.50. The firm has a market cap of $727.33 million, a price-to-earnings ratio of 57.20 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The firm had revenue of $104.16 million for the quarter, compared to analyst estimates of $103.64 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Grid Dynamics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Grid Dynamics Company 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.