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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in KD. Royal Bank of Canada raised its holdings in shares of Kyndryl by 50.2% in the first quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock valued at $4,653,000 after purchasing an additional 49,504 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Kyndryl by 15.8% in the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock valued at $252,000 after purchasing an additional 1,093 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kyndryl by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock valued at $23,018,000 after purchasing an additional 11,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kyndryl by 116.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock valued at $110,000 after purchasing an additional 1,410 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Kyndryl by 29.8% in the second quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock valued at $17,125,000 after purchasing an additional 93,726 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Price Performance

NYSE:KD opened at $11.57 on Wednesday. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $17.88. The stock has a market capitalization of $2.54 billion, a PE ratio of 13.61 and a beta of 1.66.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley decreased their target price on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Scotiabank decreased their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price for the company. Finally, Weiss Ratings cut shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.