Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report)’s share price traded up 14.5% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $27.72 and last traded at $27.62. 571,468 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,649,418 shares. The stock had previously closed at $24.13.
The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.06. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.73 billion. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%.
Institutional Investors Weigh In On Kyndryl
Hedge funds have recently modified their holdings of the company. Royce & Associates LP lifted its stake in shares of Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock worth $60,744,000 after buying an additional 232,583 shares in the last quarter. KBC Group NV boosted its holdings in shares of Kyndryl by 15.3% during the 3rd quarter. KBC Group NV now owns 6,443 shares of the company’s stock worth $148,000 after purchasing an additional 857 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Kyndryl by 39.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 23,841 shares of the company’s stock valued at $548,000 after purchasing an additional 6,688 shares during the last quarter. GSA Capital Partners LLP grew its holdings in Kyndryl by 147.1% in the 3rd quarter. GSA Capital Partners LLP now owns 26,483 shares of the company’s stock valued at $609,000 after buying an additional 15,766 shares in the last quarter. Finally, River Global Investors LLP increased its stake in shares of Kyndryl by 3.5% in the 3rd quarter. River Global Investors LLP now owns 75,916 shares of the company’s stock worth $1,744,000 after acquiring an additional 2,540 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.
Kyndryl Stock Performance
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.
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