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

Wealth Enhancement Advisory Services LLC raised its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 65.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 82,122 shares of the company’s stock after acquiring an additional 32,625 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Kyndryl were worth $2,455,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in Kyndryl by 75.3% in the 2nd quarter. Assetmark Inc. now owns 775 shares of the company’s stock worth $33,000 after buying an additional 333 shares during the period. Quent Capital LLC purchased a new position in shares of Kyndryl in the third quarter valued at $42,000. True Wealth Design LLC raised its stake in shares of Kyndryl by 103.0% during the 3rd quarter. True Wealth Design LLC now owns 1,547 shares of the company’s stock valued at $46,000 after purchasing an additional 785 shares during the period. Employees Retirement System of Texas purchased a new stake in Kyndryl during the 2nd quarter worth about $49,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Kyndryl during the 2nd quarter worth about $60,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Activity

In other news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the transaction, the senior vice president directly owned 59,708 shares in the company, valued at approximately $1,593,606.52. This represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Kyndryl Price Performance

KD stock opened at $23.29 on Friday. The firm has a 50 day simple moving average of $26.09 and a two-hundred day simple 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 stock has a market cap of $5.32 billion, a PE ratio of 13.78 and a beta of 1.85. Kyndryl Holdings, Inc. has a one year low of $22.81 and a one year high of $44.20.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. On average, analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Kyndryl Profile

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.