Kyndryl Holdings, Inc. $KD Shares Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Kyndryl stake by 768.6% in the second quarter, ending with 96,657 shares valued at approximately $1.09 million. Other institutional investors also raised their positions, with institutions collectively owning 71.53% of the stock.
• Analyst sentiment remains cautious: Kyndryl has a consensus rating of “Reduce”, based on six Hold ratings and three Sell ratings, with an average price target of $16.50.
• Kyndryl reported quarterly EPS of negative $0.12, beating estimates of negative $0.16, while revenue of $3.62 billion fell 3.3% year over year and slightly missed expectations.

Corient Private Wealth LP grew its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 768.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,657 shares of the company's stock after buying an additional 85,529 shares during the period. Corient Private Wealth LP's holdings in Kyndryl were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KD. Man Group plc raised its stake in Kyndryl by 26.5% during the 2nd quarter. Man Group plc now owns 121,882 shares of the company's stock valued at $1,378,000 after acquiring an additional 25,567 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Kyndryl during the 2nd quarter worth about $6,672,000. Hsbc Holdings PLC grew its stake in Kyndryl by 53.2% in the 2nd quarter. Hsbc Holdings PLC now owns 111,584 shares of the company's stock worth $1,241,000 after acquiring an additional 38,771 shares during the period. Canada Pension Plan Investment Board raised its holdings in Kyndryl by 116.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 525,100 shares of the company's stock valued at $5,939,000 after acquiring an additional 283,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Kyndryl by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 158,702 shares of the company's stock valued at $1,795,000 after purchasing an additional 2,034 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KD has been the subject of several recent research reports. Weiss Ratings lowered shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Kyndryl from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Susquehanna cut shares of Kyndryl from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Zacks Research lowered Kyndryl from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their price target on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Monday, August 10th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Kyndryl presently has a consensus rating of "Reduce" and a consensus target price of $16.50.

Kyndryl Price Performance

Shares of NYSE KD opened at $13.16 on Friday. The company's 50-day moving average is $12.75 and its 200 day moving average is $12.58. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.85 and a quick ratio of 0.85. Kyndryl Holdings, Inc. has a 1 year low of $10.10 and a 1 year high of $33.90. The stock has a market capitalization of $2.87 billion, a P/E ratio of 35.57 and a beta of 1.64.

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. On average, sell-side analysts expect that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.

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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