Kyndryl Holdings, Inc. $KD Stock Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP grew its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 291.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 122,202 shares of the company’s stock after buying an additional 90,952 shares during the period. Fulcrum Asset Management LLP’s holdings in Kyndryl were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ethic Inc. raised its position in shares of Kyndryl by 192.5% during the third quarter. Ethic Inc. now owns 29,925 shares of the company’s stock worth $337,000 after acquiring an additional 19,693 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Kyndryl by 179.4% in the third quarter. Kestra Advisory Services LLC now owns 32,356 shares of the company’s stock valued at $364,000 after acquiring an additional 20,775 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Kyndryl by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 34,569 shares of the company’s stock valued at $389,000 after acquiring an additional 1,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kyndryl during the 3rd quarter valued at approximately $26,000. Finally, Vise Technologies Inc. increased its position in Kyndryl by 15.9% during the 3rd quarter. Vise Technologies Inc. now owns 14,265 shares of the company’s stock valued at $161,000 after purchasing an additional 1,960 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KD shares. Weiss Ratings restated a “sell (d)” rating on shares of Kyndryl in a research report on Tuesday, November 3rd. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a research report on Thursday, August 6th. Scotiabank lifted their target price on shares of Kyndryl from $15.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, August 10th. Finally, Susquehanna upped their price target on shares of Kyndryl from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Seven research 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, the stock presently has a consensus rating of “Reduce” and a consensus target price of $17.67.

Kyndryl Stock Performance

Shares of KD stock opened at $17.18 on Thursday. The firm has a market capitalization of $3.74 billion, a PE ratio of 49.09 and a beta of 1.62. The firm has a fifty day simple moving average of $13.26 and a two-hundred day simple moving average of $13.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.79. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $27.83.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Kyndryl had a return on equity of 13.21% and a net margin of 0.52%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Kyndryl’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts forecast that Kyndryl Holdings, Inc. will post 1.36 EPS for the current fiscal year.

About Kyndryl

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.