Kyndryl Holdings, Inc. (NYSE:KD – Get Free Report)’s stock price dropped 5.3% during mid-day trading on Friday . The stock traded as low as $12.30 and last traded at $12.2650. Approximately 1,113,041 shares traded hands during trading, a decline of 75% from the average daily volume of 4,483,506 shares. The stock had previously closed at $12.95.
Analyst Ratings Changes
KD has been the subject of a number of research analyst reports. Weiss Ratings downgraded Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $16.50.
Get Our Latest Stock Analysis on KD
Kyndryl Stock Performance
Kyndryl (NYSE:KD – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.Kyndryl’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities analysts expect that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Kyndryl by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after acquiring an additional 63,846 shares during the last quarter. Sound Shore Management Inc. CT grew its holdings in shares of Kyndryl by 39.5% during the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after purchasing an additional 1,173,761 shares during the period. Cooper Creek Partners Management LLC increased its position in Kyndryl by 498.5% during the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after purchasing an additional 3,245,013 shares in the last quarter. Royce & Associates LP raised its holdings in Kyndryl by 10.8% in the fourth quarter. Royce & Associates LP now owns 1,917,036 shares of the company’s stock valued at $50,916,000 after buying an additional 186,620 shares during the period. Finally, Bank of America Corp DE grew its stake in Kyndryl by 12.8% during the first quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock worth $23,521,000 after buying an additional 203,032 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.
Kyndryl Company Profile
Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.
The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.
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