First Trust Advisors LP Increases Stake in Kyndryl Holdings, Inc. $KD

First Trust Advisors LP raised its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 31.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 500,446 shares of the company's stock after acquiring an additional 120,599 shares during the period. First Trust Advisors LP owned approximately 0.22% of Kyndryl worth $6,566,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in Kyndryl by 12.9% during the first quarter. PNC Financial Services Group Inc. now owns 31,502 shares of the company's stock valued at $413,000 after acquiring an additional 3,604 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in shares of Kyndryl by 39.5% in the first 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 in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Kyndryl in the first quarter worth $225,000. Bank of New York Mellon Corp raised its position in shares of Kyndryl by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,671,839 shares of the company's stock valued at $21,935,000 after purchasing an additional 74,823 shares during the period. Finally, NFSG Corp lifted its stake in shares of Kyndryl by 177.2% during the 1st quarter. NFSG Corp now owns 2,830 shares of the company's stock valued at $37,000 after buying an additional 1,809 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets began coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a "market perform" rating and a $15.00 price target on the stock. Wall Street Zen downgraded shares of Kyndryl from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Zacks Research raised shares of Kyndryl from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Susquehanna lowered Kyndryl from a "positive" rating to a "neutral" rating and dropped their price target for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Kyndryl in a research report on Monday, June 15th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $16.67.

Kyndryl Price Performance

NYSE KD opened at $13.60 on Monday. The company has a market cap of $3.00 billion, a PE ratio of 16.00 and a beta of 1.64. The firm's 50 day moving average price is $11.96 and its 200-day moving average price is $14.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $38.54.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.25). The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. Kyndryl's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.54 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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