Kyndryl Holdings, Inc. (NYSE:KD) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have earned a consensus recommendation of “Reduce” from the nine brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.1429.

KD has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Morgan Stanley dropped their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. BMO Capital Markets assumed coverage on shares of Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Scotiabank decreased their price objective on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th.

Kyndryl Price Performance

NYSE:KD opened at $12.28 on Friday. Kyndryl has a 52 week low of $10.10 and a 52 week high of $44.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.71 billion, a P/E ratio of 14.44 and a beta of 1.67. The stock’s fifty day moving average is $12.08 and its two-hundred day moving average is $16.14.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The business had revenue of $3.77 billion for 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts expect that Kyndryl will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC grew its position in Kyndryl by 17.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock valued at $25,561,000 after acquiring an additional 146,257 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Kyndryl by 9.4% during the third quarter. American Century Companies Inc. now owns 917,486 shares of the company’s stock worth $27,552,000 after purchasing an additional 79,209 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kyndryl by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 4,607,829 shares of the company’s stock worth $138,375,000 after purchasing an additional 180,237 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Kyndryl by 28.4% in the third quarter. GW&K Investment Management LLC now owns 479,951 shares of the company’s stock valued at $14,413,000 after purchasing an additional 106,298 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after purchasing an additional 144,625 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

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.