Hara Capital LLC bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 89,373 shares of the company’s stock, valued at approximately $1,011,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Kyndryl by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock worth $2,331,000 after purchasing an additional 421 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Kyndryl by 17.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock worth $92,000 after buying an additional 448 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Kyndryl by 62.2% in the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock worth $62,000 after buying an additional 570 shares during the last quarter. Equitable Holdings Inc. raised its stake in shares of Kyndryl by 2.8% in the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock valued at $768,000 after buying an additional 698 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Kyndryl by 1.2% in the fourth quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock valued at $1,556,000 after buying an additional 700 shares during the period. 71.53% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. boosted their price objective on Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Scotiabank dropped their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Finally, Zacks Research downgraded shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $16.50.
Kyndryl Price Performance
Kyndryl stock opened at $12.34 on Friday. The firm has a market capitalization of $2.69 billion, a P/E ratio of 33.35 and a beta of 1.65. Kyndryl Holdings, Inc. has a one year low of $10.10 and a one year high of $33.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $12.36 and a 200-day moving average price of $12.87.
Kyndryl (NYSE:KD – Get Free Report) last released its quarterly earnings data 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 company 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%.The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.
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.
Featured Stories
- Five stocks we like better than Kyndryl
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding KD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kyndryl Holdings, Inc. (NYSE:KD – Free Report).
Receive News & Ratings for Kyndryl Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyndryl and related companies with MarketBeat.com's FREE daily email newsletter.
