CenterBook Partners LP Invests $2.06 Million in Kyndryl Holdings, Inc. $KD

CenterBook Partners LP bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 77,676 shares of the company’s stock, valued at approximately $2,063,000.

A number of other hedge funds also recently modified their holdings of KD. AQR Capital Management LLC lifted its stake in shares of Kyndryl by 386.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after buying an additional 3,326,025 shares during the last quarter. Sound Shore Management Inc CT acquired a new stake in shares of Kyndryl during the 3rd quarter worth about $61,113,000. Vanguard Group Inc. lifted its stake in shares of Kyndryl by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after buying an additional 1,619,048 shares during the last quarter. Sound Shore Management Inc. CT lifted its stake in shares of Kyndryl by 46.1% during the 4th quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock worth $78,995,000 after buying an additional 939,154 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Kyndryl during the 4th quarter worth about $19,539,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

KD stock opened at $11.57 on Wednesday. The company has a quick ratio of 0.88, a current 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 $44.20. The firm has a market cap of $2.54 billion, a P/E ratio of 13.61 and a beta of 1.66. The company’s 50-day moving average price is $12.74 and its two-hundred day moving average price is $17.88.

Kyndryl (NYSE:KD) last released its 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 net margin of 1.31% and a return on equity of 20.43%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Kyndryl’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Morgan Stanley dropped their price objective 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. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. Scotiabank dropped their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings cut shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $22.14.

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.