Louisiana State Employees Retirement System Makes New Investment in Kyndryl Holdings, Inc. $KD

Louisiana State Employees Retirement System acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the first quarter, Holdings Channel reports. The institutional investor acquired 66,300 shares of the company’s stock, valued at approximately $870,000.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Kyndryl during the 4th quarter valued at approximately $29,000. Quarry LP bought a new position in Kyndryl in the 4th quarter worth approximately $31,000. NBT Bank N A NY increased its position in Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after buying an additional 1,288 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after buying an additional 1,432 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KD shares. BMO Capital Markets initiated coverage on Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price objective for the company. Morgan Stanley cut their target price on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Susquehanna downgraded 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 report on Thursday, May 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Finally, Scotiabank decreased their price target on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $22.14.

Kyndryl Price Performance

Shares of KD stock opened at $12.28 on Monday. The stock has a 50 day moving average of $12.04 and a two-hundred day moving average of $16.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $44.20. The company has a market capitalization of $2.71 billion, a P/E ratio of 14.44 and a beta of 1.67.

Kyndryl (NYSE:KD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, equities 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.