Connor Clark & Lunn Investment Management Ltd. Grows Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Kyndryl Holdings by 4.7%, owning approximately 0.30% of the company, valued at nearly $22 million.
• Multiple hedge funds significantly boosted their holdings in Kyndryl during the last quarter, including Deutsche Bank AG, which increased its stake by 95.9%.
• Kyndryl's stock recently rose by 1.8%, with a current market capitalization of $7.10 billion and a 12-month high of $44.20.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 4.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 699,661 shares of the company's stock after acquiring an additional 31,474 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Kyndryl worth $21,969,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KD. Deutsche Bank AG grew its stake in Kyndryl by 95.9% during the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock worth $74,287,000 after buying an additional 1,050,856 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Kyndryl by 180.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,331,851 shares of the company's stock worth $46,082,000 after buying an additional 856,629 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new position in Kyndryl during the 4th quarter worth approximately $26,085,000. Invesco Ltd. grew its stake in Kyndryl by 39.9% during the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after buying an additional 669,097 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Kyndryl by 60.5% during the 4th quarter. AQR Capital Management LLC now owns 1,747,662 shares of the company's stock worth $60,469,000 after buying an additional 658,866 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Up 1.8%

Kyndryl stock opened at $30.71 on Friday. Kyndryl Holdings, Inc. has a twelve month low of $22.01 and a twelve month high of $44.20. The stock has a 50 day moving average of $39.29 and a two-hundred day moving average of $36.99. The company has a current ratio of 1.05, a quick ratio of 1.07 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.34 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.83 billion. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. As a group, research analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KD. Oppenheimer raised their price target on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen cut Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Susquehanna decreased their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd.

Insider Activity at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the sale, the senior vice president directly owned 73,278 shares of the company's stock, valued at $2,868,100.92. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

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.

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