Kyndryl (NYSE:KD) Reaches New 52-Week High Following Strong Earnings

Shares of Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $25.36 and last traded at $25.17, with a volume of 2518101 shares changing hands. The stock had previously closed at $20.77.

The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm’s revenue was down 9.5% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Susquehanna upgraded Kyndryl from a “neutral” rating to a “positive” rating and increased their target price for the stock from $19.00 to $27.00 in a report on Monday, February 12th.

Hedge Funds Weigh In On Kyndryl

Several large investors have recently modified their holdings of KD. SummerHaven Investment Management LLC increased its position in shares of Kyndryl by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 56,484 shares of the company’s stock valued at $1,174,000 after buying an additional 594 shares during the period. Alpha Omega Wealth Management LLC lifted its stake in Kyndryl by 0.8% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock worth $2,074,000 after purchasing an additional 730 shares in the last quarter. Fortis Group Advisors LLC grew its position in shares of Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares in the last quarter. Huntington National Bank increased its holdings in shares of Kyndryl by 32.9% in the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock worth $56,000 after purchasing an additional 919 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Kyndryl by 1.5% in 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 in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 21.7 %

The company has a 50 day moving average of $21.20 and a 200-day moving average of $19.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $5.82 billion, a P/E ratio of -5.40, a price-to-earnings-growth ratio of 5.79 and a beta of 1.57.

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.