Louisiana State Employees Retirement System Acquires Shares of 66,300 Kyndryl Holdings, Inc. $KD

Louisiana State Employees Retirement System bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 66,300 shares of the company’s stock, valued at approximately $870,000.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Kyndryl by 386.2% in the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after acquiring an additional 3,326,025 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in Kyndryl by 46.1% in the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock valued at $78,995,000 after purchasing an additional 939,154 shares in the last quarter. Norges Bank acquired a new position in Kyndryl in the 4th quarter worth about $19,539,000. UBS Group AG increased its position in Kyndryl by 50.0% in the 3rd quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after purchasing an additional 675,943 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Kyndryl by 39.5% during the 2nd quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock worth $74,167,000 after purchasing an additional 500,309 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

KD has been the subject of several research reports. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reduced their target price on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, Scotiabank decreased their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $22.14.

Kyndryl Price Performance

Shares of NYSE:KD opened at $12.28 on Monday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 14.44 and a beta of 1.67. The business has a 50-day moving average of $12.04 and a two-hundred day moving average of $16.04. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $44.20. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88.

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