Kyndryl Holdings, Inc. (NYSE:KD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.00.

Several research firms have recently commented on KD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Guggenheim raised Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Morgan Stanley began coverage on Kyndryl in a report on Friday, September 26th. They set an “equal weight” rating and a $30.00 target price for the company. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Susquehanna set a $35.00 price target on shares of Kyndryl in a research report on Thursday, November 6th.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of Kyndryl stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $26.69, for a total value of $177,248.29. Following the completion of the sale, the senior vice president directly owned 59,708 shares in the company, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dakota Wealth Management bought a new stake in shares of Kyndryl during the 4th quarter worth approximately $1,104,000. Wealth Enhancement Advisory Services LLC raised its position in Kyndryl by 21.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,418 shares of the company’s stock valued at $2,666,000 after purchasing an additional 17,296 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Kyndryl by 66.5% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 16,168 shares of the company’s stock worth $425,000 after purchasing an additional 6,460 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kyndryl by 36.8% in the 4th quarter. GAMMA Investing LLC now owns 4,808 shares of the company’s stock valued at $128,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Kyndryl by 70.7% in the 3rd quarter. Allworth Financial LP now owns 20,159 shares of the company’s stock valued at $605,000 after purchasing an additional 8,347 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Trading Down 1.0%

KD stock opened at $27.06 on Friday. Kyndryl has a one year low of $23.28 and a one year high of $44.20. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 16.01 and a beta of 1.85. The company has a fifty day moving average price of $26.20 and a two-hundred day moving average price of $30.60. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. Equities analysts anticipate that Kyndryl will post 0.73 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.