208,863 Shares in Kyndryl Holdings, Inc. $KD Acquired by Waterfront Wealth Inc.

Waterfront Wealth Inc. bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 208,863 shares of the company’s stock, valued at approximately $2,740,000.

Several other large investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC raised its position in shares of Kyndryl by 17.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock valued at $25,561,000 after purchasing an additional 146,257 shares during the period. Vanguard Group Inc. raised its holdings in Kyndryl by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after acquiring an additional 144,625 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Kyndryl by 5.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,658,549 shares of the company’s stock valued at $42,276,000 after acquiring an additional 81,422 shares during the period. Geode Capital Management LLC lifted its position in shares of Kyndryl by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after acquiring an additional 63,846 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Kyndryl in the fourth quarter valued at about $6,039,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank cut their target price 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. Morgan Stanley lowered their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kyndryl currently has a consensus rating of “Reduce” and an average price target of $16.67.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $12.07 on Friday. The firm has a market cap of $2.66 billion, a PE ratio of 14.21 and a beta of 1.67. The stock has a 50 day moving average of $11.93 and a 200 day moving average of $15.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $43.00.

Kyndryl (NYSE:KD) last released its quarterly earnings data 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, research analysts expect that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal 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.