CastleKnight Management LP acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 155,200 shares of the company’s stock, valued at approximately $4,122,000. CastleKnight Management LP owned about 0.07% of Kyndryl as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in KD. Public Employees Retirement System of Ohio grew its holdings in Kyndryl by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock valued at $2,331,000 after buying an additional 421 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Kyndryl by 17.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after buying an additional 448 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Kyndryl by 3.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 14,625 shares of the company’s stock valued at $439,000 after buying an additional 487 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Kyndryl by 62.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock valued at $62,000 after buying an additional 570 shares in the last quarter. Finally, Equitable Holdings Inc. grew its holdings in Kyndryl by 2.8% during the 3rd quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock valued at $768,000 after buying an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Kyndryl Stock Performance
Shares of KD stock opened at $11.44 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $44.20. The stock has a 50 day moving average price of $12.57 and a two-hundred day moving average price of $17.32. The company has a market capitalization of $2.52 billion, a P/E ratio of 13.46 and a beta of 1.66.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets assumed coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 target price for the company. Scotiabank reduced their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Morgan Stanley reduced their target price on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kyndryl in a report on Monday. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Kyndryl presently has a consensus rating of “Reduce” and an average target price of $22.14.
Read Our Latest Research Report on Kyndryl
About Kyndryl
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.
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