Engle Capital Management L.P. Purchases 38,000 Shares of Kyndryl Holdings, Inc. $KD

Engle Capital Management L.P. lifted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 688,000 shares of the company’s stock after purchasing an additional 38,000 shares during the quarter. Kyndryl comprises about 8.7% of Engle Capital Management L.P.’s holdings, making the stock its biggest holding. Engle Capital Management L.P. owned approximately 0.30% of Kyndryl worth $28,868,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new position in Kyndryl in the 1st quarter valued at about $28,000. ST Germain D J Co. Inc. raised its position in shares of Kyndryl by 135.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 668 shares of the company’s stock valued at $28,000 after buying an additional 384 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Kyndryl during the 1st quarter valued at approximately $30,000. Virtus Advisers LLC acquired a new position in Kyndryl in the first quarter valued at approximately $31,000. Finally, Assetmark Inc. grew its position in Kyndryl by 75.3% in the second quarter. Assetmark Inc. now owns 775 shares of the company’s stock worth $33,000 after acquiring an additional 333 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Price Performance

KD opened at $26.88 on Friday. The stock’s 50-day moving average price is $26.94 and its 200 day moving average price is $32.74. Kyndryl Holdings, Inc. has a 12-month low of $23.28 and a 12-month high of $44.20. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 15.91 and a beta of 1.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.24.

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.