Kyndryl Holdings, Inc. $KD Shares Sold by Algert Global LLC

Key Points

• Algert Global cut its Kyndryl stake by 90% in the second quarter, selling 524,460 shares and retaining 58,190 shares valued at approximately $658,000. Institutional investors and hedge funds collectively own 71.53% of the company.
• Kyndryl reported quarterly revenue of $3.62 billion, slightly below estimates, while adjusted earnings per share of $(0.12) beat expectations. Revenue declined 3.3% year over year, and analysts expect full-year EPS of $1.36.
• Analyst sentiment remains cautious, with six Hold ratings and three Sell ratings producing a consensus “Reduce” rating and an average price target of $16.50, versus the stock’s reported opening price of $13.21.

Algert Global LLC reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 90.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,190 shares of the company's stock after selling 524,460 shares during the quarter. Algert Global LLC's holdings in Kyndryl were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Kyndryl by 50.2% in the 1st quarter. Royal Bank of Canada now owns 148,178 shares of the company's stock worth $4,653,000 after purchasing an additional 49,504 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Kyndryl by 15.8% in the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company's stock valued at $252,000 after purchasing an additional 1,093 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kyndryl by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company's stock worth $23,018,000 after acquiring an additional 11,177 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Kyndryl by 116.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company's stock valued at $110,000 after buying an additional 1,410 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Kyndryl by 29.8% in the 2nd quarter. First Trust Advisors LP now owns 408,123 shares of the company's stock worth $17,125,000 after acquiring an additional 93,726 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Up 0.1%

Kyndryl stock opened at $13.21 on Monday. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.70 and a beta of 1.64. The company's 50 day simple moving average is $12.53 and its 200 day simple moving average is $12.53. 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 fifty-two week low of $10.10 and a fifty-two week high of $33.90.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on KD. Scotiabank reduced their target price 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. Zacks Research lowered Kyndryl from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. raised their target price on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. BMO Capital Markets reissued a "market perform" rating and set a $16.00 price objective on shares of Kyndryl in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $16.50.

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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