64,005 Shares in Kyndryl Holdings, Inc. $KD Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 64,005 shares of the company’s stock, valued at approximately $840,000.

Other hedge funds also recently made changes to their positions in the company. Douglas Lane & Associates LLC lifted its stake in Kyndryl by 17.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock worth $25,561,000 after purchasing an additional 146,257 shares during the period. Vanguard Group Inc. boosted its holdings in Kyndryl by 0.5% during the fourth 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Kyndryl by 5.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,658,549 shares of the company’s stock valued at $42,276,000 after purchasing an additional 81,422 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kyndryl by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after purchasing an additional 63,846 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Kyndryl in the 4th quarter valued at approximately $6,039,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Performance

NYSE KD opened at $11.96 on Monday. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $41.63. The company has a 50 day moving average of $11.89 and a 200-day moving average of $15.52. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 14.06 and a beta of 1.67.

Kyndryl (NYSE:KD) last announced its 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). The business had revenue of $3.77 billion during 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 firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, equities analysts forecast that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KD has been the subject of several analyst reports. Scotiabank cut their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets started coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective for the company. Finally, Morgan Stanley cut their price objective on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $16.67.

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.