Strs Ohio Sells 130,606 Shares of Kyndryl Holdings, Inc. $KD

Strs Ohio lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 96.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,434 shares of the company’s stock after selling 130,606 shares during the period. Strs Ohio’s holdings in Kyndryl were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in KD. Douglas Lane & Associates LLC increased its holdings in Kyndryl by 17.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock worth $25,561,000 after buying an additional 146,257 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kyndryl by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after acquiring an additional 144,625 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Kyndryl by 5.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,658,549 shares of the company’s stock valued at $42,276,000 after acquiring an additional 81,422 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Kyndryl by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after acquiring an additional 63,846 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Kyndryl in the fourth quarter worth approximately $6,039,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on KD shares. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank decreased their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Finally, BMO Capital Markets started coverage on Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kyndryl has an average rating of “Reduce” and an average price target of $16.67.

Kyndryl Price Performance

Shares of NYSE:KD opened at $12.30 on Tuesday. 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 stock has a market capitalization of $2.71 billion, a PE ratio of 14.48 and a beta of 1.67. The firm’s 50 day moving average price is $11.86 and its 200-day moving average price is $15.42. Kyndryl Holdings, Inc. has a twelve month low of $10.10 and a twelve month high of $40.25.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts expect that Kyndryl Holdings, Inc. will post 1.54 EPS for the current year.

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.