Kyndryl (NYSE:KD) Reaches New 1-Year Low – What’s Next?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price reached a new 52-week low on Thursday . The company traded as low as $22.89 and last traded at $22.8940, with a volume of 465718 shares changing hands. The stock had previously closed at $23.70.

Analyst Ratings Changes

KD has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Guggenheim upgraded shares of Kyndryl to a “strong-buy” rating in a research report on Wednesday, November 26th. Scotiabank started coverage on Kyndryl in a research report on Tuesday. They set an “outperform” rating on the stock. Finally, Susquehanna set a $35.00 target price on Kyndryl in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Kyndryl Price Performance

The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 13.61 and a beta of 1.85. The company’s 50 day moving average is $26.06 and its 200 day moving average is $29.19. 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 earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 6,641 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the completion of the transaction, the senior vice president owned 59,708 shares in the company, valued at $1,593,606.52. This trade represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

A number of large investors have recently added to or reduced their stakes in KD. Assetmark Inc. lifted its holdings in shares of Kyndryl by 75.3% in the second quarter. Assetmark Inc. now owns 775 shares of the company’s stock valued at $33,000 after purchasing an additional 333 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Kyndryl by 192.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock valued at $35,000 after buying an additional 770 shares in the last quarter. NBT Bank N A NY grew its holdings in Kyndryl by 3,220.0% during the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after buying an additional 1,288 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Kyndryl during the fourth quarter worth $39,000. 71.53% of the stock is owned by institutional investors and hedge funds.

About Kyndryl

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.