Y Intercept Hong Kong Ltd acquired a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 64,005 shares of the company’s stock, valued at approximately $840,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC lifted its position in shares of Kyndryl by 63.0% during the first quarter. Red Door Wealth Management LLC now owns 14,338 shares of the company’s stock worth $188,000 after purchasing an additional 5,540 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Kyndryl by 5.8% during the first quarter. Pictet Asset Management Holding SA now owns 35,996 shares of the company’s stock valued at $472,000 after purchasing an additional 1,962 shares during the last quarter. Poehling Capital Management INC. acquired a new stake in shares of Kyndryl in the first quarter valued at approximately $1,155,000. Louisiana State Employees Retirement System acquired a new stake in shares of Kyndryl in the first quarter valued at approximately $870,000. Finally, OP Asset Management Ltd bought a new position in Kyndryl in the 1st quarter worth approximately $5,364,000. Institutional investors and hedge funds own 71.53% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on KD. BMO Capital Markets started coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective on the stock. Susquehanna cut 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 research note on Thursday, May 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Morgan Stanley cut their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Kyndryl presently has a consensus rating of “Reduce” and a consensus target price of $16.67.
Kyndryl Stock Down 0.1%
Shares of NYSE:KD opened at $11.96 on Monday. Kyndryl Holdings, Inc. has a one year low of $10.10 and a one year high of $41.63. The company has a 50 day moving average of $11.89 and a 200-day moving average of $15.52. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 14.06 and a beta of 1.67.
Kyndryl (NYSE:KD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $0.52 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.
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.
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