FORA Capital LLC Invests $705,000 in Kyndryl Holdings, Inc. (NYSE:KD)

FORA Capital LLC bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,367 shares of the company's stock, valued at approximately $705,000.

Several other institutional investors and hedge funds have also bought and sold shares of KD. Vanguard Group Inc. increased its position in shares of Kyndryl by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock valued at $964,434,000 after purchasing an additional 79,575 shares during the last quarter. FMR LLC increased its holdings in Kyndryl by 105.5% during the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock valued at $429,332,000 after buying an additional 6,371,541 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock worth $127,434,000 after acquiring an additional 2,033,549 shares during the period. GMT Capital Corp raised its position in Kyndryl by 16.4% in the fourth quarter. GMT Capital Corp now owns 2,973,560 shares of the company's stock worth $102,885,000 after acquiring an additional 418,900 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of 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 acquiring an additional 669,097 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KD. Susquehanna reduced their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Oppenheimer boosted their price target on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday.

Kyndryl Price Performance

Shares of KD traded up $2.15 during mid-day trading on Tuesday, reaching $41.17. The stock had a trading volume of 2,928,049 shares, compared to its average volume of 2,030,455. The business has a fifty day moving average of $32.45 and a 200 day moving average of $34.13. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 74.85, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $43.61.

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

Kyndryl Company 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.