Connor Clark & Lunn Investment Management Ltd. increased its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 276.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 446,673 shares of the company's stock after buying an additional 328,008 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.21% of Kyndryl worth $5,052,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Kyndryl by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company's stock worth $2,331,000 after purchasing an additional 421 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kyndryl by 17.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company's stock valued at $92,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Kyndryl by 62.2% during the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company's stock worth $62,000 after purchasing an additional 570 shares during the last quarter. Equitable Holdings Inc. lifted its position in shares of Kyndryl by 2.8% during the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company's stock worth $768,000 after purchasing an additional 698 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Kyndryl by 1.2% in the fourth quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company's stock worth $1,556,000 after purchasing an additional 700 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.
Kyndryl Stock Up 4.3%
Shares of NYSE:KD opened at $13.22 on Friday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.74 and a beta of 1.65. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $33.90. The company's fifty day moving average is $12.49 and its two-hundred day moving average is $12.51. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85.
Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the firm posted $0.37 EPS. The company's revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on KD shares. Weiss Ratings lowered Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Zacks Research downgraded Kyndryl from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Scotiabank reduced their target price on Kyndryl from $16.50 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on Kyndryl from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Monday, August 10th. Finally, Wall Street Zen downgraded Kyndryl from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $16.50.
Read Our Latest Report on KD
About Kyndryl
(
Free Report)
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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