Focus Partners Wealth Takes $669,000 Position in Kyndryl Holdings, Inc. (NYSE:KD)

Focus Partners Wealth purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 19,268 shares of the company's stock, valued at approximately $669,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. increased its holdings in shares of Kyndryl by 9.4% in the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company's stock valued at $99,000 after acquiring an additional 247 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $39,000 after acquiring an additional 297 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Kyndryl by 0.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock valued at $1,775,000 after acquiring an additional 332 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Kyndryl by 19.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company's stock valued at $78,000 after acquiring an additional 370 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Kyndryl by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company's stock valued at $2,232,000 after acquiring an additional 400 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Down 1.3%

Kyndryl stock opened at $39.95 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 72.64, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The business has a fifty day moving average price of $33.05 and a 200-day moving average price of $34.73.

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

Wall Street Analysts Forecast Growth

KD has been the subject of a number of recent analyst reports. Susquehanna lowered 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. Oppenheimer raised their price objective on Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th.

Kyndryl Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.