589,873 Shares in Kyndryl Holdings, Inc. $KD Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC purchased 589,873 Kyndryl shares in the second quarter, valued at approximately $6.7 million and representing a 0.27% stake. Institutional investors collectively own 71.53% of the company.
• Analyst sentiment remains cautious: Kyndryl has an average “Reduce” rating, with six Hold ratings and three Sell ratings, and an average price target of $16.50.
• Kyndryl reported quarterly adjusted earnings of a $0.12-per-share loss, beating estimates, while revenue of $3.62 billion fell 3.3% year over year. The stock opened at $13.21, near its 50-day and 200-day moving averages of $12.53.

Jupiter Topco LLC bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 589,873 shares of the company's stock, valued at approximately $6,672,000. Jupiter Topco LLC owned 0.27% of Kyndryl as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new stake in shares of Kyndryl in the second quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in shares of Kyndryl by 104.1% during the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company's stock worth $27,000 after buying an additional 1,233 shares during the period. Western Wealth Management LLC acquired a new position in shares of Kyndryl during the first quarter worth approximately $29,000. Los Angeles Capital Management LLC bought a new position in Kyndryl in the 4th quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in Kyndryl in the 4th quarter valued at approximately $31,000. Institutional investors own 71.53% of the company's stock.

Analysts Set New Price Targets

KD has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. BMO Capital Markets reissued a "market perform" rating and issued a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th. Scotiabank cut 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 Friday, August 14th. Finally, Susquehanna lowered shares of Kyndryl from a "positive" rating to a "neutral" rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $16.50.

Kyndryl Stock Up 0.1%

KD opened at $13.21 on Monday. Kyndryl Holdings, Inc. has a one year low of $10.10 and a one year high of $33.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The stock's fifty day moving average is $12.53 and its 200-day moving average is $12.53. The company has a market capitalization of $2.88 billion, a PE ratio of 35.70 and a beta of 1.64.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities analysts predict that Kyndryl Holdings, Inc. will post 1.36 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.

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