Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report)’s share price was 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. Approximately 571,468 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,649,418 shares. The stock had previously closed at $24.13.
The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.06. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.73 billion. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in KD. Northwestern Mutual Wealth Management Co. raised its stake in Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after purchasing an additional 422 shares during the period. Simplicity Wealth LLC raised its stake in Kyndryl by 3.0% during the second quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock worth $414,000 after purchasing an additional 454 shares during the period. UMB Bank n.a. raised its stake in Kyndryl by 44.2% during the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after purchasing an additional 462 shares during the period. Trust Co. of Vermont raised its stake in Kyndryl by 15.2% during the third quarter. Trust Co. of Vermont now owns 3,513 shares of the company’s stock worth $81,000 after purchasing an additional 464 shares during the period. Finally, Silverberg Bernstein Capital Management LLC raised its stake in Kyndryl by 1.4% during 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 period. 71.53% of the stock is currently owned by institutional investors and hedge funds.
Kyndryl Stock Performance
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.
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