Phocas Financial Corp. Has $3.75 Million Position in Kyndryl Holdings, Inc. $KD

Phocas Financial Corp. reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,023 shares of the company’s stock after selling 71,489 shares during the quarter. Phocas Financial Corp.’s holdings in Kyndryl were worth $3,746,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KD. AQR Capital Management LLC raised its stake in Kyndryl by 386.2% during the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after acquiring an additional 3,326,025 shares in the last quarter. Sound Shore Management Inc CT acquired a new position in shares of Kyndryl in the 3rd quarter worth approximately $61,113,000. Vanguard Group Inc. boosted its holdings in shares of Kyndryl by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after acquiring an additional 1,619,048 shares in the last quarter. UBS Group AG boosted its holdings in shares of Kyndryl by 50.0% in the 3rd quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after acquiring an additional 675,943 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Kyndryl by 1,167.1% in the 3rd quarter. Federated Hermes Inc. now owns 691,496 shares of the company’s stock worth $20,766,000 after acquiring an additional 636,925 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Kyndryl stock opened at $13.18 on Wednesday. The stock has a 50-day simple moving average of $13.19 and a 200 day simple moving average of $21.94. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.75. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $44.20. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 12.55 and a beta of 1.83.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Monday, February 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08). The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Kyndryl had a net margin of 1.65% and a return on equity of 25.91%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on KD. Zacks Research downgraded Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Morgan Stanley cut their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Weiss Ratings cut Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. cut Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price target for the company. in a report on Monday, February 9th. Finally, Scotiabank initiated coverage on Kyndryl in a report on Tuesday, January 27th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Kyndryl currently has a consensus rating of “Reduce” and an average price target of $25.60.

Kyndryl 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.