Kyndryl Holdings, Inc. $KD Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1,167.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 691,496 shares of the company’s stock after buying an additional 636,925 shares during the quarter. Federated Hermes Inc.’s holdings in Kyndryl were worth $20,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Kyndryl by 75.3% during the second quarter. Assetmark Inc. now owns 775 shares of the company’s stock valued at $33,000 after acquiring an additional 333 shares during the period. Quent Capital LLC bought a new position in Kyndryl during the 3rd quarter valued at $42,000. True Wealth Design LLC increased its position in shares of Kyndryl by 103.0% during the 3rd quarter. True Wealth Design LLC now owns 1,547 shares of the company’s stock valued at $46,000 after purchasing an additional 785 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Kyndryl in the 2nd quarter worth $49,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Kyndryl in the second quarter valued at $60,000. 71.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna set a $35.00 price target on shares of Kyndryl in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Scotiabank began coverage on Kyndryl in a report on Tuesday. They issued an “outperform” rating on the stock. Finally, Guggenheim upgraded Kyndryl to a “strong-buy” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Kyndryl Price Performance

Shares of NYSE:KD opened at $23.00 on Friday. The company’s fifty day moving average is $26.06 and its two-hundred day moving average is $29.19. The company has a market cap of $5.26 billion, a P/E ratio of 13.61 and a beta of 1.85. Kyndryl Holdings, Inc. has a 12-month low of $22.78 and a 12-month high of $44.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.Kyndryl’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.