Nuveen Asset Management LLC boosted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,320,008 shares of the company’s stock after acquiring an additional 42,215 shares during the period. Nuveen Asset Management LLC owned 1.78% of Grid Dynamics worth $24,724,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GDYN. MCF Advisors LLC acquired a new position in Grid Dynamics in the third quarter valued at approximately $31,000. Nisa Investment Advisors LLC raised its position in Grid Dynamics by 58.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock valued at $35,000 after purchasing an additional 760 shares during the period. AdvisorShares Investments LLC purchased a new stake in Grid Dynamics in the second quarter valued at approximately $42,000. UBS Group AG raised its position in Grid Dynamics by 412.4% in the third quarter. UBS Group AG now owns 2,275 shares of the company’s stock valued at $43,000 after purchasing an additional 1,831 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Grid Dynamics in the second quarter valued at approximately $68,000. 68.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GDYN has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Grid Dynamics in a research report on Friday, February 24th. JPMorgan Chase & Co. cut their target price on Grid Dynamics from $18.00 to $17.00 in a research report on Thursday, December 15th. TheStreet raised Grid Dynamics from a “d+” rating to a “c” rating in a research report on Friday, February 24th. Finally, Citigroup boosted their target price on Grid Dynamics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 24th.
Grid Dynamics Trading Up 1.6 %
Grid Dynamics (NASDAQ:GDYN – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Grid Dynamics had a positive return on equity of 13.48% and a negative net margin of 9.41%. The business had revenue of $80.60 million for the quarter, compared to analyst estimates of $77.65 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.51 earnings per share for the current year.
Grid Dynamics Company Profile
Grid Dynamics Holdings, Inc provides digital engineering and information technology services. The firm core business is to deliver focused and complex technical consulting, software design, development, testing and internet service operations. It also helps organizations become more agile and create innovative digital products and experiences through its deep expertise in emerging technology, such as AI, data science, cloud computing, big data and DevOps, lean software development practices and a performance product culture.
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