83,649 Shares in Kyndryl Holdings, Inc. $KD Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 83,649 shares of the company’s stock, valued at approximately $946,000.

Several other large investors have also bought and sold shares of KD. Waterfront Wealth Inc. bought a new stake in Kyndryl during the first quarter worth about $2,740,000. Hara Capital LLC bought a new position in shares of Kyndryl during the second quarter valued at approximately $1,011,000. Hsbc Holdings PLC lifted its holdings in shares of Kyndryl by 421.2% during the fourth quarter. Hsbc Holdings PLC now owns 248,130 shares of the company’s stock valued at $6,558,000 after purchasing an additional 200,522 shares during the last quarter. Corient Private Wealth LP lifted its holdings in shares of Kyndryl by 768.6% during the second quarter. Corient Private Wealth LP now owns 96,657 shares of the company’s stock valued at $1,093,000 after purchasing an additional 85,529 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position 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 worth $118,997,000 after purchasing an additional 63,846 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on KD shares. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Weiss Ratings lowered Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. BMO Capital Markets reissued a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $16.50.

Kyndryl Stock Performance

Shares of KD opened at $12.97 on Thursday. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 35.06 and a beta of 1.64. The business’s fifty day simple moving average is $12.84 and its two-hundred day simple moving average is $12.58. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $33.90. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

Kyndryl (NYSE:KD) last announced 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. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. 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.