Kyndryl (NYSE:KD) Trading Up 14.5% Following Strong Earnings

by · The Cerbat Gem

Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report)’s stock price shot up 14.5% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $27.72 and last traded at $27.62. 571,468 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,649,418 shares. The stock had previously closed at $24.13.

The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.73 billion.

Institutional Investors Weigh In On Kyndryl

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Kyndryl by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after buying an additional 422 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Kyndryl by 3.0% during the 2nd quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock worth $414,000 after acquiring an additional 454 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Kyndryl by 44.2% during the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock valued at $35,000 after acquiring an additional 462 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Kyndryl by 15.2% in the third quarter. Trust Co. of Vermont now owns 3,513 shares of the company’s stock valued at $81,000 after purchasing an additional 464 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC increased its position in Kyndryl by 1.4% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 36,020 shares of the company’s stock worth $828,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 14.5 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82. The stock’s 50 day moving average is $23.60 and its 200-day moving average is $24.52. The company has a market cap of $6.39 billion, a PE ratio of -33.67, a P/E/G ratio of 5.66 and a beta of 1.63.

About Kyndryl

(Get Free Report)

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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