Rock Creek Group LLC Purchases 60,068 Shares of Kyndryl Holdings, Inc. $KD

Rock Creek Group LLC purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 60,068 shares of the company’s stock, valued at approximately $676,000.

Other hedge funds have also modified their holdings of the company. Cooper Creek Partners Management LLC raised its holdings in Kyndryl by 498.5% in the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after buying an additional 3,245,013 shares during the period. Sound Shore Management Inc. CT lifted its position in Kyndryl by 39.5% in the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after buying an additional 1,173,761 shares during the last quarter. Jupiter Topco LLC purchased a new position in Kyndryl during the second quarter worth about $6,672,000. Russell Investments Group Ltd. boosted its stake in Kyndryl by 99.2% during the third quarter. Russell Investments Group Ltd. now owns 1,102,092 shares of the company’s stock worth $12,410,000 after buying an additional 548,953 shares during the period. Finally, State Street Corp boosted its stake in Kyndryl by 6.8% during the second quarter. State Street Corp now owns 7,792,865 shares of the company’s stock worth $88,137,000 after buying an additional 492,925 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KD. Scotiabank lifted their price target on shares of Kyndryl from $15.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, November 5th. Susquehanna upped their price objective on shares of Kyndryl from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, August 10th. Zacks Research raised shares of Kyndryl from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.67.

Kyndryl Trading Down 1.5%

Shares of KD stock traded down $0.25 on Friday, hitting $16.81. The stock had a trading volume of 2,122,952 shares, compared to its average volume of 4,600,816. The company’s 50 day moving average price is $13.41 and its 200-day moving average price is $13.19. Kyndryl Holdings, Inc. has a 1 year low of $10.10 and a 1 year high of $27.83. The company has a debt-to-equity ratio of 2.79, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $3.66 billion, a P/E ratio of 48.02 and a beta of 1.62.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, November 4th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Kyndryl had a return on equity of 13.21% and a net margin of 0.52%. Kyndryl’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.

Kyndryl Company Profile

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.