Capstone Capital Management Ltd grew its position in shares of Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 190.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 92,169 shares of the company’s stock after buying an additional 60,477 shares during the quarter. Capstone Capital Management Ltd’s holdings in Kyndryl were worth $1,038,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Kyndryl during the third quarter worth approximately $609,000. Douglas Lane & Associates LLC boosted its holdings in shares of Kyndryl by 9.2% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,160,601 shares of the company’s stock worth $13,068,000 after acquiring an additional 98,215 shares in the last quarter. State Street Corp boosted its holdings in shares of Kyndryl by 6.8% in the 2nd quarter. State Street Corp now owns 7,792,865 shares of the company’s stock worth $88,137,000 after acquiring an additional 492,925 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Kyndryl by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 158,702 shares of the company’s stock worth $1,795,000 after acquiring an additional 2,034 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Kyndryl by 1,245.2% during the 2nd quarter. NewEdge Advisors LLC now owns 17,676 shares of the company’s stock worth $200,000 after acquiring an additional 16,362 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.
Kyndryl Trading Up 4.4%
KD opened at $13.87 on Wednesday. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $29.45. The firm has a 50-day moving average price of $12.55 and a two-hundred day moving average price of $12.51. The stock has a market capitalization of $3.02 billion, a PE ratio of 19.82 and a beta of 1.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.
Kyndryl (NYSE:KD – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. Kyndryl’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. As a group, equities analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
KD has been the topic of a number of research analyst reports. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 price objective on shares of Kyndryl in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Finally, Weiss Ratings cut Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Kyndryl presently has an average rating of “Reduce” and an average price target of $16.50.
View Our Latest Research Report on Kyndryl
About Kyndryl
Kyndryl Holdings, Inc (NYSE:KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services help customers operate and transform complex IT environments, including cloud, data centers, networks, applications and digital workplaces.
The company provides consulting and implementation services as well as ongoing managed services. Its capabilities include cloud solutions, network and edge services, cybersecurity, data and artificial intelligence, application management, enterprise computing and technology modernization.
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