Amundi Purchases 419,708 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Amundi increased its Kyndryl stake by 145.5% in the second quarter, purchasing 419,708 additional shares for a total of 708,203 shares valued at approximately $8.01 million. Institutional investors and hedge funds collectively own 71.53% of Kyndryl.
• Kyndryl reported quarterly revenue of $3.62 billion, down 3.3% year over year, while its loss of $0.12 per share exceeded analysts’ expectations for a $0.16 loss.
• Analyst sentiment remains cautious, with Kyndryl receiving a consensus “Reduce” rating and an average price target of $16.50; the stock recently traded near $13.12.

Amundi grew its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 145.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 708,203 shares of the company's stock after acquiring an additional 419,708 shares during the period. Amundi owned about 0.33% of Kyndryl worth $8,010,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl during the 4th quarter worth approximately $29,000. Quarry LP bought a new stake in Kyndryl in the 4th quarter valued at $31,000. Geneos Wealth Management Inc. lifted its holdings in Kyndryl by 62.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company's stock valued at $62,000 after purchasing an additional 570 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Kyndryl during the 4th quarter valued at $40,000. Finally, Western Wealth Management LLC bought a new position in Kyndryl during the first quarter worth $29,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of NYSE:KD opened at $13.12 on Friday. Kyndryl Holdings, Inc. has a 1 year low of $10.10 and a 1 year high of $32.65. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 35.45 and a beta of 1.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. The company's 50 day simple moving average is $12.87 and its 200 day simple moving average is $12.58.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts predict that Kyndryl Holdings, Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on KD. Zacks Research downgraded shares of Kyndryl from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Susquehanna cut shares of Kyndryl from a "positive" rating to a "neutral" rating and cut their target price for the stock from $16.00 to $13.00 in a research note on Thursday, May 21st. Weiss Ratings downgraded shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $16.00 price target on shares of Kyndryl in a report on Thursday, August 6th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Kyndryl presently has a consensus rating of "Reduce" and an average price target of $16.50.

About Kyndryl

Kyndryl Holdings, Inc NYSE: KD is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.

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