Kyndryl Holdings, Inc. (NYSE:KD) Stock Holdings Increased by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,592,000 shares of the company’s stock after buying an additional 196,800 shares during the quarter. Kyndryl makes up about 1.5% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 13th biggest holding. Hennessy Advisors Inc. owned approximately 0.69% of Kyndryl worth $34,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KD. Atlas Capital Advisors LLC bought a new position in shares of Kyndryl during the first quarter valued at approximately $33,000. Fortis Group Advisors LLC grew its holdings in shares of Kyndryl by 100.0% during the fourth 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 during the last quarter. Pingora Partners LLC bought a new position in shares of Kyndryl during the fourth quarter valued at approximately $50,000. Raleigh Capital Management Inc. grew its holdings in shares of Kyndryl by 100.3% during the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in shares of Kyndryl by 19.7% during the first quarter. AdvisorNet Financial Inc now owns 6,407 shares of the company’s stock valued at $139,000 after purchasing an additional 1,054 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Up 0.3 %

Shares of NYSE KD traded up $0.08 during mid-day trading on Friday, reaching $26.13. The company had a trading volume of 1,321,123 shares, compared to its average volume of 1,708,436. Kyndryl Holdings, Inc. has a twelve month low of $11.92 and a twelve month high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $6.02 billion, a PE ratio of -17.48, a price-to-earnings-growth ratio of 5.81 and a beta of 1.70. The stock’s 50 day moving average is $24.84 and its 200-day moving average is $22.33.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. Kyndryl’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) earnings per share. As a group, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KD shares. Susquehanna boosted their price objective on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. Scotiabank boosted their price objective on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Finally, Oppenheimer initiated coverage on Kyndryl in a research report on Thursday. They set an “outperform” rating and a $33.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyndryl has an average rating of “Buy” and an average target price of $29.40.

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.