Fox Run Management L.L.C. Purchases New Position in Kyndryl Holdings, Inc. $KD

Fox Run Management L.L.C. purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 48,244 shares of the company’s stock, valued at approximately $1,281,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Kyndryl by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after acquiring an additional 144,625 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kyndryl by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,607,829 shares of the company’s stock valued at $138,375,000 after acquiring an additional 180,237 shares during the period. Geode Capital Management LLC raised its position in shares of Kyndryl by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after acquiring an additional 63,846 shares during the period. AQR Capital Management LLC raised its position in shares of Kyndryl by 386.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after acquiring an additional 3,326,025 shares during the period. Finally, Sound Shore Management Inc. CT raised its position in shares of Kyndryl by 46.1% in the 4th quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock valued at $78,995,000 after acquiring an additional 939,154 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of KD stock opened at $11.57 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $2.54 billion, a P/E ratio of 13.61 and a beta of 1.66. The company’s 50 day moving average price is $12.74 and its two-hundred day moving average price is $17.88. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $44.20.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. On average, analysts expect that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KD. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Zacks Research downgraded shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Morgan Stanley cut their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Finally, Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.