Kyndryl (NYSE:KD) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Kyndryl (NYSE:KDGet Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage issued a neutral rating and a $12.00 target price on the stock.

Kyndryl Stock Up 3.0 %

Shares of NYSE:KD opened at $10.95 on Tuesday. Kyndryl has a 1 year low of $9.10 and a 1 year high of $52.00. The business’s 50-day moving average is $10.31 and its 200-day moving average is $12.39. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.27.

Kyndryl (NYSE:KDGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.18) EPS for the quarter. Kyndryl had a negative return on equity of 42.09% and a negative net margin of 10.70%. The company had revenue of $4.43 billion for the quarter. On average, research analysts anticipate that Kyndryl will post -1.18 EPS for the current fiscal year.

Insider Transactions at Kyndryl

In other news, major shareholder Goldman Sachs Group Inc sold 380,000 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $12.20, for a total value of $4,636,000.00. Following the transaction, the insider now owns 22,307,055 shares of the company’s stock, valued at $272,146,071. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 380,000 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $12.20, for a total value of $4,636,000.00. Following the transaction, the insider now owns 22,307,055 shares of the company’s stock, valued at $272,146,071. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David B. Wyshner bought 24,080 shares of Kyndryl stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $10.47 per share, for a total transaction of $252,117.60. Following the purchase, the chief financial officer now owns 350,571 shares of the company’s stock, valued at $3,670,478.37. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 133,780 shares of company stock valued at $1,498,513. 0.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kyndryl

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp purchased a new stake in Kyndryl in the 4th quarter worth $125,742,000. JPMorgan Chase & Co. bought a new position in Kyndryl during the 4th quarter valued at about $61,786,000. National Bank of Canada FI grew its stake in Kyndryl by 4,594.5% in the 2nd quarter. National Bank of Canada FI now owns 3,120,770 shares of the company’s stock worth $30,521,000 after acquiring an additional 3,054,293 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new position in Kyndryl in the 4th quarter worth about $53,416,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Kyndryl in the 4th quarter worth approximately $45,771,000. Institutional investors own 44.48% of the company’s stock.

About Kyndryl

(Get Rating)

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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