Hsbc Holdings PLC Purchases 200,522 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• HSBC Holdings PLC significantly increased its stake in Kyndryl, buying 200,522 shares in the fourth quarter and lifting its position by 421.2% to 248,130 shares worth about $6.56 million.
• Other institutional investors also added to their Kyndryl holdings, and institutions now own 71.53% of the company’s stock.
• Analyst sentiment remains cautious: several firms cut price targets or ratings, and Kyndryl’s consensus rating is “Reduce” with an average target price of $16.67.

Hsbc Holdings PLC boosted its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 421.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,130 shares of the company's stock after buying an additional 200,522 shares during the quarter. Hsbc Holdings PLC owned approximately 0.11% of Kyndryl worth $6,558,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 worth $752,479,000 after acquiring an additional 144,625 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Kyndryl by 53.9% in the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company's stock valued at $170,934,000 after purchasing an additional 2,255,860 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kyndryl by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company's stock worth $124,420,000 after purchasing an additional 76,614 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $118,997,000 after purchasing an additional 63,846 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its holdings in Kyndryl by 46.1% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company's stock worth $78,995,000 after purchasing an additional 939,154 shares during the last quarter. Institutional investors own 71.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KD. Scotiabank lowered their price target on shares of Kyndryl from $16.50 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, May 8th. Morgan Stanley reduced their price objective on shares of Kyndryl from $28.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 24th. Susquehanna cut Kyndryl from a "positive" rating to a "neutral" rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Wall Street Zen cut Kyndryl from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Kyndryl in a research report on Monday, June 15th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $16.67.

Kyndryl Stock Performance

Shares of KD stock opened at $11.97 on Thursday. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $43.51. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.09 and a beta of 1.67. The company has a 50-day simple moving average of $11.96 and a 200 day simple moving average of $15.74. 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 (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). The company had revenue of $3.77 billion during 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%. The firm's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, sell-side analysts predict that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current 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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