Lazard Asset Management LLC Increases Position in Kyndryl Holdings, Inc. (NYSE:KD)

Lazard Asset Management LLC lifted its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 67,916.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,810 shares of the company's stock after purchasing an additional 40,750 shares during the quarter. Lazard Asset Management LLC's holdings in Kyndryl were worth $1,411,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KD. FMR LLC boosted its position in shares of Kyndryl by 105.5% in the 4th quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after purchasing an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock worth $127,434,000 after acquiring an additional 2,033,549 shares during the last quarter. Deutsche Bank AG raised its stake in Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock worth $74,287,000 after acquiring an additional 1,050,856 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Kyndryl by 180.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,331,851 shares of the company's stock worth $46,082,000 after acquiring an additional 856,629 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new position in Kyndryl in the 4th quarter worth $26,085,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Stock Performance

Shares of NYSE KD traded down $0.48 during trading on Friday, reaching $38.87. 1,089,385 shares of the company traded hands, compared to its average volume of 2,019,559. The firm's fifty day simple moving average is $33.43 and its 200 day simple moving average is $35.10. The stock has a market cap of $9.04 billion, a P/E ratio of 70.67, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 12-month low of $21.34 and a 12-month high of $43.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The company's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Susquehanna reduced their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Oppenheimer raised their target price on Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.