Power Wealth Management LLC Invests $1.16 Million in Kyndryl Holdings, Inc. (NYSE:KD)

Power Wealth Management LLC acquired a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,865 shares of the company's stock, valued at approximately $1,161,000. Kyndryl comprises 0.8% of Power Wealth Management LLC's holdings, making the stock its 28th biggest position.

Several other hedge funds have also added to or reduced their stakes in KD. SummerHaven Investment Management LLC boosted its holdings in Kyndryl by 1.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 56,484 shares of the company's stock valued at $1,174,000 after acquiring an additional 594 shares during the last quarter. Huntington National Bank increased its position in shares of Kyndryl by 32.9% during the third quarter. Huntington National Bank now owns 3,714 shares of the company's stock worth $56,000 after buying an additional 919 shares during the period. Arizona State Retirement System raised its stake in Kyndryl by 1.5% during the third quarter. Arizona State Retirement System now owns 64,874 shares of the company's stock worth $980,000 after buying an additional 972 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Kyndryl by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 18,733 shares of the company's stock valued at $283,000 after buying an additional 1,029 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Kyndryl by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 198,891 shares of the company's stock valued at $3,003,000 after acquiring an additional 1,080 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KD has been the topic of a number of recent analyst reports. Evercore ISI raised Kyndryl from an "in-line" rating to an "outperform" rating and set a $26.00 price objective on the stock in a research note on Monday, January 8th. Susquehanna raised Kyndryl from a "neutral" rating to a "positive" rating and boosted their price target for the company from $19.00 to $27.00 in a research note on Monday, February 12th.

Kyndryl Stock Up 3.3 %

Shares of NYSE KD traded up $0.65 during trading on Friday, hitting $20.54. 1,580,466 shares of the company traded hands, compared to its average volume of 1,588,563. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -4.53, a P/E/G ratio of 5.79 and a beta of 1.57. The business's fifty day moving average is $21.23 and its 200 day moving average is $19.82. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.94 and a current ratio of 0.94. Kyndryl Holdings, Inc. has a fifty-two week low of $11.35 and a fifty-two week high of $22.90.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.14). Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. Equities research analysts predict that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

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.