Sound Shore Management Inc. CT Increases Stock Position in Kyndryl Holdings, Inc. $KD

Sound Shore Management Inc. CT raised its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 46.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,974,223 shares of the company’s stock after purchasing an additional 939,154 shares during the period. Kyndryl accounts for approximately 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 24th largest holding. Sound Shore Management Inc. CT’s holdings in Kyndryl were worth $78,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Kyndryl by 192.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares in the last quarter. NBT Bank N A NY lifted its holdings in shares of Kyndryl by 3,220.0% in the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Kyndryl in the third quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Kyndryl by 4,475.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock valued at $39,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

Shares of KD opened at $12.29 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 14.46 and a beta of 1.66. The company’s 50 day simple moving average is $12.81 and its 200 day simple moving average is $18.23. Kyndryl Holdings, Inc. has a 1 year low of $10.10 and a 1 year high of $44.20.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the company posted $0.52 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts predict that Kyndryl Holdings, Inc. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KD shares. JPMorgan Chase & Co. downgraded shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a research note on Monday, February 9th. Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings downgraded shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. BMO Capital Markets started coverage on shares of Kyndryl in a research note on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective on the stock. Finally, Zacks Research downgraded shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kyndryl has an average rating of “Reduce” and a consensus price target of $22.14.

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.