Kyndryl (NYSE:KD) Sets New 52-Week Low – Here’s Why

Kyndryl Holdings, Inc. (NYSE:KD) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $22.89 and last traded at $22.8940, with a volume of 465718 shares traded. The stock had previously closed at $23.70.

Analyst Upgrades and Downgrades

KD has been the topic of several research reports. Scotiabank began coverage on Kyndryl in a research note on Tuesday. They set an “outperform” rating on the stock. Guggenheim raised shares of Kyndryl to a “strong-buy” rating in a research note on Wednesday, November 26th. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Susquehanna set a $35.00 target price on shares of Kyndryl in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Kyndryl Stock Down 2.9%

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. The stock has a market cap of $5.26 billion, a PE ratio of 13.61 and a beta of 1.85. The firm has a fifty day moving average of $26.10 and a 200 day moving average of $29.35.

Kyndryl (NYSE:KD) last released its quarterly earnings data 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. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the firm posted $0.01 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 6,641 shares of Kyndryl stock in a transaction 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 in the company, valued at $1,593,606.52. This trade represents a 10.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kyndryl

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

Kyndryl Company 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.