Eventide Asset Management LLC Takes $880,000 Position in Kyndryl Holdings, Inc. $KD

Key Points

• Eventide Asset Management LLC has made a new investment of approximately $880,000 in Kyndryl Holdings, acquiring 28,029 shares in the company's stock during the 1st quarter.
• Kyndryl's stock opened at $31.79 with a market cap of $7.35 billion, and the company reported earnings per share of $0.37, slightly beating analysts' expectations.
• Analysts have given Kyndryl an average rating of "Buy" with an average price target of $46.00, while Oppenheimer raised its price target from $47.00 to $55.00.

Eventide Asset Management LLC acquired a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,029 shares of the company's stock, valued at approximately $880,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cinctive Capital Management LP boosted its stake in shares of Kyndryl by 65.9% during the 1st quarter. Cinctive Capital Management LP now owns 786,112 shares of the company's stock worth $24,684,000 after purchasing an additional 312,326 shares during the last quarter. Banque Transatlantique SA lifted its stake in shares of Kyndryl by 6,180.2% during the first quarter. Banque Transatlantique SA now owns 17,145 shares of the company's stock valued at $498,000 after buying an additional 16,872 shares during the period. Amundi boosted its position in Kyndryl by 1.1% during the first quarter. Amundi now owns 225,987 shares of the company's stock worth $7,006,000 after acquiring an additional 2,393 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Kyndryl by 5.4% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,265,000 shares of the company's stock worth $39,721,000 after acquiring an additional 65,000 shares during the period. Finally, First Manhattan CO. LLC. raised its holdings in Kyndryl by 35.0% in the 1st quarter. First Manhattan CO. LLC. now owns 189,606 shares of the company's stock valued at $5,954,000 after acquiring an additional 49,171 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KD shares. Wall Street Zen cut Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Oppenheimer increased their target price on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Kyndryl presently has a consensus rating of "Buy" and a consensus target price of $46.00.

Kyndryl Stock Performance

KD remained flat at $33.14 during trading on Tuesday. 1,837,890 shares of the company's stock traded hands, compared to its average volume of 2,350,143. The stock's 50-day moving average is $35.42 and its 200 day moving average is $35.63. Kyndryl Holdings, Inc. has a 12 month low of $22.26 and a 12 month high of $44.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 3.58 and a beta of 1.89.

Kyndryl (NYSE:KD - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Kyndryl had a net margin of 1.97% and a return on equity of 19.88%. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the prior year, the company earned $0.13 EPS. The firm's revenue was up .1% on a year-over-year basis. Kyndryl has set its FY 2026 guidance at EPS. Analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.