Wealth Enhancement Advisory Services LLC Has $2.46 Million Stake in Kyndryl Holdings, Inc. $KD

Wealth Enhancement Advisory Services LLC raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 65.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,122 shares of the company’s stock after acquiring an additional 32,625 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kyndryl were worth $2,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in Kyndryl by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 65,500 shares of the company’s stock valued at $2,748,000 after buying an additional 300 shares in the last quarter. Assetmark Inc. grew its stake in shares of Kyndryl by 75.3% during the second quarter. Assetmark Inc. now owns 775 shares of the company’s stock worth $33,000 after buying an additional 333 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Kyndryl by 11.2% during the second quarter. Bessemer Group Inc. now owns 3,476 shares of the company’s stock worth $145,000 after buying an additional 351 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Kyndryl by 4.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 7,933 shares of the company’s stock valued at $333,000 after acquiring an additional 368 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Kyndryl by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,316 shares of the company’s stock valued at $433,000 after acquiring an additional 402 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KD. Guggenheim upgraded Kyndryl to a “strong-buy” rating in a research report on Wednesday, November 26th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. reduced their price target on Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. Finally, Susquehanna set a $35.00 target price on shares of Kyndryl in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $26.69, for a total value of $177,248.29. Following the transaction, the senior vice president owned 59,708 shares in the company, valued at $1,593,606.52. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Kyndryl Price Performance

Shares of KD opened at $23.29 on Friday. The business has a 50-day moving average of $26.09 and a 200-day moving average of $29.31. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 13.78 and a beta of 1.85. Kyndryl Holdings, Inc. has a 1 year low of $22.81 and a 1 year high of $44.20.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the business posted $0.01 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

About Kyndryl

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.