Envestnet Asset Management Inc. Raises Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Envestnet Asset Management Inc. boosted its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) by 67.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,610 shares of the company’s stock after acquiring an additional 102,550 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Grid Dynamics were worth $4,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in Grid Dynamics by 4.2% in the 1st quarter. HighTower Advisors LLC now owns 16,568 shares of the company’s stock worth $225,000 after acquiring an additional 671 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Grid Dynamics by 58.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock worth $35,000 after acquiring an additional 760 shares during the last quarter. US Bancorp DE increased its stake in Grid Dynamics by 4.2% in the 3rd quarter. US Bancorp DE now owns 22,205 shares of the company’s stock worth $415,000 after acquiring an additional 905 shares during the last quarter. MCF Advisors LLC bought a new position in Grid Dynamics in the 3rd quarter worth about $31,000. Finally, Parkside Financial Bank & Trust increased its stake in Grid Dynamics by 64.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,492 shares of the company’s stock worth $84,000 after acquiring an additional 1,763 shares during the last quarter. 68.69% of the stock is currently owned by institutional investors.

Grid Dynamics Price Performance

GDYN opened at $11.99 on Friday. The stock’s 50 day simple moving average is $12.06 and its 200 day simple moving average is $14.28. Grid Dynamics Holdings, Inc. has a 1 year low of $9.09 and a 1 year high of $24.27. The firm has a market cap of $887.25 million, a price-to-earnings ratio of -27.88 and a beta of 0.85.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Grid Dynamics had a positive return on equity of 12.44% 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 period last year, the company earned $0.10 EPS. Grid Dynamics’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GDYN shares. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Grid Dynamics in a research report on Friday, February 24th. Citigroup increased their price objective on Grid Dynamics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 24th. JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $18.00 to $17.00 in a research report on Thursday, December 15th. Finally, TheStreet upgraded Grid Dynamics from a “d+” rating to a “c” rating in a research report on Friday, February 24th.

Grid Dynamics Company Profile

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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.