SG Americas Securities LLC Raises Holdings in Kyndryl Holdings, Inc. $KD

SG Americas Securities LLC raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 241.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,269 shares of the company’s stock after acquiring an additional 34,831 shares during the quarter. SG Americas Securities LLC’s holdings in Kyndryl were worth $1,480,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ST Germain D J Co. Inc. increased its position in shares of Kyndryl by 135.2% in the second quarter. ST Germain D J Co. Inc. now owns 668 shares of the company’s stock valued at $28,000 after buying an additional 384 shares in the last quarter. Assetmark Inc. grew its stake in Kyndryl by 75.3% in the 2nd 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. Employees Retirement System of Texas acquired a new stake in Kyndryl in the 2nd quarter valued at $49,000. Atlantic Union Bankshares Corp purchased a new stake in Kyndryl in the 2nd quarter worth $60,000. Finally, Ameritas Advisory Services LLC acquired a new position in Kyndryl during the second quarter worth $61,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 6.5%

Shares of KD stock opened at $25.28 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $5.78 billion, a PE ratio of 14.96 and a beta of 1.85. The company has a 50-day moving average of $26.21 and a two-hundred day moving average of $30.44. Kyndryl Holdings, Inc. has a 1-year low of $23.28 and a 1-year high of $44.20.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the firm earned $0.01 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Morgan Stanley initiated coverage on Kyndryl in a research report on Friday, September 26th. They issued an “equal weight” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Guggenheim raised Kyndryl to a “strong-buy” rating in a research note on Wednesday, November 26th. Finally, Susquehanna set a $35.00 target price on shares of Kyndryl in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kyndryl presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 59,708 shares of the company’s stock, valued at approximately $1,593,606.52. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

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.