Canada Pension Plan Investment Board Acquires 283,000 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Canada Pension Plan Investment Board more than doubled its Kyndryl stake in the second quarter, adding 283,000 shares to own 525,100 shares valued at approximately $5.94 million, or 0.24% of the company.
• Institutional ownership remains high at 71.53%, with major investors including Vanguard, HSBC Holdings and Geode Capital also increasing their positions.
• Kyndryl slightly beat quarterly EPS expectations, reporting a $0.12 loss versus the anticipated $0.16 loss, but revenue fell 3.3% year over year. Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $16.50 target price.

Canada Pension Plan Investment Board increased its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 116.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 525,100 shares of the company's stock after buying an additional 283,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.24% of Kyndryl worth $5,939,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Kyndryl by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company's stock valued at $752,479,000 after acquiring an additional 144,625 shares during the period. Waterfront Wealth Inc. bought a new position in Kyndryl in the 1st quarter worth $2,740,000. Hara Capital LLC purchased a new position in Kyndryl during the second quarter valued at $1,011,000. Hsbc Holdings PLC lifted its position in Kyndryl by 421.2% during the fourth quarter. Hsbc Holdings PLC now owns 248,130 shares of the company's stock valued at $6,558,000 after purchasing an additional 200,522 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Kyndryl by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company's stock valued at $118,997,000 after purchasing an additional 63,846 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $13.21 on Monday. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.70 and a beta of 1.64. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The stock's 50-day simple moving average is $12.53 and its 200-day simple moving average is $12.53. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $33.90.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The firm 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 firm's 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. As a group, analysts expect that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KD has been the topic of several recent research reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $16.00 price objective on shares of Kyndryl in a research note on Thursday, August 6th. Susquehanna lowered shares of Kyndryl from a "positive" rating to a "neutral" rating and reduced their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Wall Street Zen cut shares of Kyndryl from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Scotiabank dropped their price target on shares of Kyndryl from $16.50 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Kyndryl from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $16.50.

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.

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