Summit Creek Advisors LLC Buys 199,324 Shares of Grid Dynamics Holdings, Inc. $GDYN

Summit Creek Advisors LLC boosted its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 27.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 923,757 shares of the company’s stock after purchasing an additional 199,324 shares during the quarter. Summit Creek Advisors LLC owned about 1.09% of Grid Dynamics worth $8,342,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in Grid Dynamics during the third quarter worth approximately $31,000. GAMMA Investing LLC boosted its position in Grid Dynamics by 273.2% during the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after purchasing an additional 2,634 shares during the period. Quarry LP boosted its position in Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after purchasing an additional 1,757 shares during the period. Canada Pension Plan Investment Board bought a new stake in Grid Dynamics during the second quarter worth approximately $43,000. Finally, PNC Financial Services Group Inc. boosted its position in Grid Dynamics by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after purchasing an additional 1,742 shares during the period. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GDYN. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Northland Securities decreased their target price on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. TD Cowen decreased their target price on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Needham & Company LLC reduced their price objective on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $7.12 on Thursday. The stock has a market cap of $595.45 million, a P/E ratio of 142.43 and a beta of 0.86. Grid Dynamics Holdings, Inc. has a one year low of $5.13 and a one year high of $13.85. The stock has a fifty day moving average price of $6.02 and a 200 day moving average price of $7.57.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.Grid Dynamics’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.

Grid Dynamics Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.