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

Geode Capital Management LLC boosted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,456,962 shares of the company’s stock after purchasing an additional 63,846 shares during the quarter. Geode Capital Management LLC owned about 1.95% of Kyndryl worth $118,997,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KD. Smartleaf Asset Management LLC raised its position in Kyndryl by 192.0% during 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 during the period. NBT Bank N A NY raised its holdings in Kyndryl by 3,220.0% during the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after buying an additional 1,288 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after buying an additional 1,432 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Kyndryl in the 4th quarter worth about $39,000. Finally, Optiver Holding B.V. bought a new stake in shares of Kyndryl in the 3rd quarter worth about $40,000. 71.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KD. JPMorgan Chase & Co. lowered shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a research report on Monday, February 9th. BMO Capital Markets assumed coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective for the company. Oppenheimer reiterated a “market perform” rating on shares of Kyndryl in a research report on Monday, February 9th. Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Guggenheim cut shares of Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Trading Down 4.3%

Shares of NYSE:KD opened at $11.62 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $44.20. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 13.66 and a beta of 1.66. The business has a 50-day moving average price of $12.78 and a 200-day moving average price of $18.09.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The business had revenue of $3.77 billion for 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%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Equities analysts predict that Kyndryl Holdings, Inc. will post 1.59 EPS for the current year.

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.