55,865 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Acquired by Power Wealth Management LLC

Power Wealth Management LLC acquired a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,865 shares of the company’s stock, valued at approximately $1,161,000. Kyndryl makes up about 0.8% of Power Wealth Management LLC’s investment portfolio, making the stock its 28th largest position.

Several other large investors have also recently added to or reduced their stakes in KD. SummerHaven Investment Management LLC raised its stake in shares of Kyndryl by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 56,484 shares of the company’s stock worth $1,174,000 after purchasing an additional 594 shares in the last quarter. Huntington National Bank raised its position in Kyndryl by 32.9% during the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock valued at $56,000 after acquiring an additional 919 shares in the last quarter. Arizona State Retirement System raised its position in Kyndryl by 1.5% during the third quarter. Arizona State Retirement System now owns 64,874 shares of the company’s stock valued at $980,000 after acquiring an additional 972 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Kyndryl by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 18,733 shares of the company’s stock valued at $283,000 after acquiring an additional 1,029 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Kyndryl by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 198,891 shares of the company’s stock worth $3,003,000 after acquiring an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Analyst Ratings Changes

KD has been the topic of a number of recent research reports. Susquehanna upgraded shares of Kyndryl from a “neutral” rating to a “positive” rating and raised their price target for the company from $19.00 to $27.00 in a report on Monday, February 12th. Evercore ISI upgraded Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 target price on the stock in a report on Monday, January 8th.

Kyndryl Stock Performance

KD stock traded up $0.65 during midday trading on Friday, hitting $20.54. 1,580,466 shares of the company traded hands, compared to its average volume of 1,588,563. Kyndryl Holdings, Inc. has a twelve month low of $11.35 and a twelve month high of $22.90. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -4.53, a price-to-earnings-growth ratio of 5.79 and a beta of 1.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. The business has a 50 day simple moving average of $21.23 and a 200-day simple moving average of $19.79.

Kyndryl (NYSE:KD) last posted its earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. As a group, equities research analysts predict that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current year.

Kyndryl Company Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.