83,649 Shares in Kyndryl Holdings, Inc. $KD Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 83,649 Kyndryl shares worth approximately $946,000, while institutional investors collectively own 71.53% of the company.
• Kyndryl reported quarterly revenue of $3.62 billion, down 3.3% year over year, but its adjusted loss of $0.12 per share was better than analysts’ expected loss of $0.16.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and three rate it Sell, resulting in a consensus “Reduce” rating and an average price target of $16.50.

Public Employees Retirement System of Ohio bought a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 83,649 shares of the company's stock, valued at approximately $946,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Kyndryl by 386.2% in the 3rd 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. Cooper Creek Partners Management LLC raised its position in Kyndryl by 498.5% in the 1st quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company's stock worth $51,115,000 after purchasing an additional 3,245,013 shares during the period. Sound Shore Management Inc. CT raised its position in Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company's stock worth $54,422,000 after purchasing an additional 1,173,761 shares during the period. Norges Bank bought a new stake in Kyndryl in the fourth quarter worth $19,539,000. Finally, UBS Group AG lifted its stake in Kyndryl by 50.0% in the third 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. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $12.97 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm has a market cap of $2.83 billion, a P/E ratio of 35.06 and a beta of 1.64. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $33.90. The firm has a 50-day moving average of $12.84 and a 200-day moving average of $12.58.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the company posted $0.37 EPS. Kyndryl's quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts expect that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KD shares. JPMorgan Chase & Co. raised their price objective on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. Zacks Research cut Kyndryl from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. BMO Capital Markets restated a "market perform" rating and set a $16.00 price target on shares of Kyndryl in a research report on Thursday, August 6th. Weiss Ratings cut Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, Susquehanna downgraded Kyndryl from a "positive" rating to a "neutral" rating and lowered their price objective 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $16.50.

Kyndryl Company 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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