California State Teachers Retirement System Purchases 50,466 Shares of Kyndryl Holdings, Inc. $KD

California State Teachers Retirement System increased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 267,265 shares of the company’s stock after purchasing an additional 50,466 shares during the quarter. California State Teachers Retirement System’s holdings in Kyndryl were worth $3,507,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Kyndryl by 13.8% in the 1st quarter. Royal Bank of Canada now owns 58,320 shares of the company’s stock worth $765,000 after buying an additional 7,052 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Kyndryl by 132.3% in the first quarter. Quantinno Capital Management LP now owns 114,691 shares of the company’s stock valued at $1,505,000 after acquiring an additional 65,319 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Kyndryl by 29,796.7% during the first quarter. Lazard Asset Management LLC now owns 17,938 shares of the company’s stock valued at $235,000 after acquiring an additional 17,878 shares during the last quarter. Cooper Creek Partners Management LLC increased its position in shares of Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after acquiring an additional 3,245,013 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Kyndryl during the first quarter worth $816,000. 71.53% of the stock is owned by institutional investors.

Kyndryl Trading Up 0.4%

Shares of KD stock opened at $14.05 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm has a market cap of $3.10 billion, a P/E ratio of 37.97 and a beta of 1.65. The company has a 50 day moving average of $12.16 and a 200-day moving average of $13.65. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $33.90.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Kyndryl’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

KD has been the topic of several research analyst reports. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings lowered Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a $16.00 target price on shares of Kyndryl in a research note on Thursday. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Kyndryl currently has a consensus rating of “Reduce” and a consensus target price of $16.83.

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.