Grid Dynamics Holdings, Inc. $GDYN Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 23.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,627 shares of the company’s stock after buying an additional 85,488 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Grid Dynamics were worth $5,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in Grid Dynamics by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after purchasing an additional 35,204 shares during the last quarter. Axiom Investors LLC DE purchased a new stake in Grid Dynamics during the 1st quarter worth approximately $3,876,000. Taylor Frigon Capital Management LLC raised its position in shares of Grid Dynamics by 37.6% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 195,621 shares of the company’s stock valued at $2,259,000 after purchasing an additional 53,484 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Grid Dynamics during the 1st quarter valued at approximately $1,472,000. Finally, Northern Trust Corp boosted its stake in shares of Grid Dynamics by 3.7% during the 1st quarter. Northern Trust Corp now owns 882,826 shares of the company’s stock valued at $13,816,000 after buying an additional 31,099 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GDYN. Jefferies Financial Group began coverage on shares of Grid Dynamics in a report on Monday, September 22nd. They issued a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC cut their target price on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen cut Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.33.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $8.27 on Friday. Grid Dynamics Holdings, Inc. has a one year low of $7.37 and a one year high of $25.50. The company has a 50-day simple moving average of $8.07 and a 200-day simple moving average of $10.04. The firm has a market capitalization of $701.05 million, a PE ratio of 55.13 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data 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 net margin of 3.42% and a return on equity of 1.74%. The firm had revenue of $104.16 million for the quarter, compared to analyst estimates of $103.64 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Grid Dynamics’s quarterly revenue 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. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.