Geode Capital Management LLC Boosts Holdings in Kyndryl Holdings, Inc. $KD

Geode Capital Management LLC increased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,456,962 shares of the company’s stock after purchasing an additional 63,846 shares during the period. Geode Capital Management LLC’s holdings in Kyndryl were worth $118,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Kyndryl by 50.2% during the 1st quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock worth $4,653,000 after buying an additional 49,504 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Kyndryl by 15.8% during the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $252,000 after purchasing an additional 1,093 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Kyndryl by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock valued at $23,018,000 after purchasing an additional 11,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Kyndryl by 116.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock worth $110,000 after buying an additional 1,410 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Kyndryl by 29.8% in the second quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock valued at $17,125,000 after purchasing an additional 93,726 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. JPMorgan Chase & Co. lowered shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 target price on the stock. in a report on Monday, February 9th. Oppenheimer reiterated a “market perform” rating on shares of Kyndryl in a report on Monday, February 9th. Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Scotiabank cut their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $22.14.

Kyndryl Stock Performance

NYSE KD opened at $11.62 on Friday. The stock has a 50-day moving average of $12.78 and a two-hundred day moving average of $18.09. The company has a market cap of $2.55 billion, a P/E ratio of 13.66 and a beta of 1.66. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.86. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20.

Kyndryl (NYSE:KD) last posted its quarterly earnings results 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 company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. Kyndryl’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. As a group, analysts anticipate that Kyndryl Holdings, Inc. will post 1.59 EPS for the current year.

Kyndryl 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.