Hsbc Holdings PLC Has $6.56 Million Stock Holdings in Kyndryl Holdings, Inc. $KD

Hsbc Holdings PLC grew its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 421.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,130 shares of the company’s stock after buying an additional 200,522 shares during the period. Hsbc Holdings PLC’s holdings in Kyndryl were worth $6,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Kyndryl by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock valued at $2,331,000 after acquiring an additional 421 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kyndryl by 17.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after acquiring an additional 448 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Kyndryl by 3.4% during the third quarter. Crossmark Global Holdings Inc. now owns 14,625 shares of the company’s stock worth $439,000 after acquiring an additional 487 shares during the period. Geneos Wealth Management Inc. increased its position in Kyndryl by 62.2% during the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock worth $62,000 after acquiring an additional 570 shares during the period. Finally, Equitable Holdings Inc. raised its stake in Kyndryl by 2.8% in the 3rd quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock worth $768,000 after purchasing an additional 698 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Down 3.3%

KD stock opened at $11.97 on Thursday. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $43.51. The business has a 50-day simple moving average of $11.96 and a 200 day simple moving average of $15.74. 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 company has a market cap of $2.64 billion, a PE ratio of 14.09 and a beta of 1.67.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. Sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KD has been the subject of a number of recent research reports. BMO Capital Markets started coverage on shares of Kyndryl in a report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price objective for the company. Scotiabank lowered their target price 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. Weiss Ratings reiterated 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 for the company in a research note on Tuesday, March 24th. Finally, Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $16.67.

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.