Kyndryl Holdings, Inc. $KD Holdings Increased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 747.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,607 shares of the company’s stock after buying an additional 269,554 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Kyndryl worth $8,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KD. Royal Bank of Canada raised its position in shares of Kyndryl by 50.2% during the 1st quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock worth $4,653,000 after buying an additional 49,504 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Kyndryl by 15.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $252,000 after buying an additional 1,093 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Kyndryl by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock worth $23,018,000 after buying an additional 11,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Kyndryl by 116.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock worth $110,000 after buying an additional 1,410 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Kyndryl by 29.8% during the 2nd quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock worth $17,125,000 after buying an additional 93,726 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on KD. Morgan Stanley dropped their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings cut shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. Scotiabank lowered their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, Guggenheim cut shares of Kyndryl from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 10th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Kyndryl currently has an average rating of “Reduce” and an average price target of $22.14.

Kyndryl Stock Performance

Kyndryl stock opened at $11.57 on Wednesday. The firm’s 50 day simple moving average is $12.74 and its 200-day simple moving average is $17.88. The company has a market cap of $2.54 billion, a P/E ratio of 13.61 and a beta of 1.66. 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 Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $44.20.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. As a group, equities research analysts predict that Kyndryl Holdings, Inc. will post 1.59 EPS for the current 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.