Neo Ivy Capital Management Purchases New Shares in Kyndryl Holdings, Inc. (NYSE:KD)

Neo Ivy Capital Management purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 89,244 shares of the company's stock, valued at approximately $3,087,000.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Kyndryl by 49.2% during the 3rd quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after purchasing an additional 84,347 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Kyndryl during the 4th quarter worth approximately $327,000. UMB Bank n.a. grew its position in shares of Kyndryl by 27.1% during the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock worth $66,000 after buying an additional 408 shares during the period. Dakota Wealth Management bought a new stake in shares of Kyndryl in the 4th quarter valued at $1,221,000. Finally, Cottonwood Capital Advisors LLC acquired a new position in shares of Kyndryl during the 4th quarter valued at $249,000. 71.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on KD shares. Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday. Oppenheimer increased their price objective on shares of Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, Susquehanna decreased their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd.

Kyndryl Stock Up 0.1%

NYSE KD traded up $0.02 during mid-day trading on Wednesday, hitting $39.18. The company's stock had a trading volume of 413,290 shares, compared to its average volume of 2,013,172. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 10.84 and a beta of 1.91. The company's 50 day simple moving average is $33.59 and its 200 day simple moving average is $35.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a twelve month low of $21.34 and a twelve month high of $43.61.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) earnings per share. Analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

About Kyndryl

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.