Entropy Technologies LP bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 62,178 shares of the company’s stock, valued at approximately $816,000.
A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Kyndryl by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after purchasing an additional 144,625 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Kyndryl by 53.9% in the 4th quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after purchasing an additional 2,255,860 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kyndryl by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock worth $124,420,000 after purchasing an additional 76,614 shares during the last quarter. Geode Capital Management LLC boosted its stake in Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after purchasing an additional 63,846 shares during the last quarter. Finally, Sound Shore Management Inc. CT grew its holdings in shares of Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after buying an additional 1,173,761 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Scotiabank reduced their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, BMO Capital Markets initiated coverage on shares of Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price on the stock. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $16.67.
Kyndryl Stock Up 4.6%
Shares of NYSE:KD opened at $13.34 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $11.86 and a two-hundred day moving average of $14.29. The stock has a market cap of $2.94 billion, a P/E ratio of 15.70 and a beta of 1.67. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $39.98.
Kyndryl (NYSE:KD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, research analysts expect 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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