Kyndryl Holdings, Inc. $KD Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 276.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 446,673 shares of the company’s stock after acquiring an additional 328,008 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kyndryl were worth $5,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KD. Vanguard Group Inc. lifted its stake in Kyndryl by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after buying an additional 144,625 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Kyndryl by 53.9% during the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after acquiring an additional 2,255,860 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kyndryl by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock worth $124,420,000 after acquiring an additional 76,614 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Kyndryl by 1.5% during 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 last quarter. Finally, Sound Shore Management Inc. CT increased its holdings in shares of Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after acquiring an additional 1,173,761 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Analyst Ratings Changes

KD has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. 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 report on Friday, May 8th. Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Finally, Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $16.50.

Kyndryl Price Performance

Shares of NYSE:KD opened at $13.22 on Friday. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $33.90. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 35.74 and a beta of 1.65. The stock’s 50 day moving average price is $12.49 and its 200 day moving average price is $12.51. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. Equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal 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.