Teachers Retirement System of The State of Kentucky Decreases Stock Position in Grid Dynamics Holdings, Inc. $GDYN

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 82.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,662 shares of the company’s stock after selling 81,137 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Grid Dynamics were worth $137,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wasatch Advisors LP raised its position in Grid Dynamics by 2.5% in the 2nd quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock valued at $53,933,000 after purchasing an additional 112,319 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Grid Dynamics by 123.9% during the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after buying an additional 1,049,519 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Grid Dynamics by 7.0% during the second quarter. Geode Capital Management LLC now owns 1,639,992 shares of the company’s stock worth $18,944,000 after buying an additional 107,495 shares during the period. Fourth Sail Capital LP raised its holdings in Grid Dynamics by 58.5% in the second quarter. Fourth Sail Capital LP now owns 1,623,562 shares of the company’s stock valued at $18,752,000 after acquiring an additional 599,293 shares in the last quarter. Finally, CenterBook Partners LP raised its holdings in Grid Dynamics by 255.1% in the third quarter. CenterBook Partners LP now owns 1,094,701 shares of the company’s stock valued at $8,440,000 after acquiring an additional 786,384 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Trading Down 2.0%

Shares of NASDAQ:GDYN opened at $6.51 on Tuesday. The firm has a 50 day simple moving average of $7.92 and a 200-day simple moving average of $8.25. Grid Dynamics Holdings, Inc. has a twelve month low of $6.11 and a twelve month high of $18.22. The company has a market capitalization of $551.85 million, a PE ratio of 65.10 and a beta of 0.84.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, March 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The firm had revenue of $106.15 million for the quarter, compared to the consensus estimate of $105.92 million. During the same period last year, the firm posted $0.12 EPS. The company’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen lowered their price target on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC decreased their price objective on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a report on Wednesday, December 24th. Finally, Northland Securities decreased their price target on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Monday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Grid Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $10.60.

Grid Dynamics Company 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.