Kyndryl (NYSE:KD) Hits New 52-Week High Following Earnings Beat

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price 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. The stock had previously closed at $20.77.

The company reported ($0.01) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the firm posted ($0.21) earnings per share. The firm’s revenue was down 9.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised their price objective on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Entropy Technologies LP purchased a new position in shares of Kyndryl during the first quarter valued at approximately $345,000. Bleakley Financial Group LLC boosted its position in shares of Kyndryl by 11.8% during the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock valued at $333,000 after buying an additional 1,621 shares during the last quarter. Inspire Investing LLC lifted its holdings in Kyndryl by 17.6% during the first quarter. Inspire Investing LLC now owns 74,880 shares of the company’s stock worth $1,629,000 after acquiring an additional 11,232 shares during the period. Sei Investments Co. boosted its position in Kyndryl by 23.4% in the first quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock worth $5,674,000 after purchasing an additional 49,520 shares during the last quarter. Finally, Swiss National Bank grew its stake in Kyndryl by 0.5% in the 1st quarter. Swiss National Bank now owns 453,100 shares of the company’s stock valued at $9,859,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 0.7 %

The stock has a market capitalization of $6.07 billion, a PE ratio of -5.82, a price-to-earnings-growth ratio of 5.79 and a beta of 1.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $21.37 and a 200-day moving average price of $20.00.

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.