Strs Ohio Sells 130,606 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Strs Ohio sharply reduced its Kyndryl position in the first quarter, selling 130,606 shares and cutting its stake by 96%, leaving it with 5,434 shares worth about $71,000.
• Wall Street sentiment on Kyndryl is cautious, with several analysts lowering ratings or price targets; the stock now carries a consensus “Reduce” rating and an average target price of $16.67.
• Kyndryl’s latest earnings missed expectations, as it reported $0.18 EPS versus the $0.43 estimate, while revenue came in slightly above forecasts at $3.77 billion.

Strs Ohio lowered its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 96.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,434 shares of the company's stock after selling 130,606 shares during the quarter. Strs Ohio's holdings in Kyndryl were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in Kyndryl during the 4th quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Kyndryl during the 4th quarter worth approximately $31,000. NBT Bank N A NY raised its position in shares of Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company's stock worth $35,000 after acquiring an additional 1,288 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Kyndryl by 4,475.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company's stock worth $39,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Kyndryl in the 4th quarter valued at approximately $39,000. 71.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Kyndryl from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "sell (d+)" rating on shares of Kyndryl in a research report on Monday, June 15th. Susquehanna cut shares of Kyndryl from a "positive" rating to a "neutral" rating and dropped their target price for the company from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets assumed coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a "market perform" rating and a $15.00 target price on the stock. Finally, Morgan Stanley decreased their price target 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. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $16.67.

Kyndryl Stock Performance

Kyndryl stock opened at $12.30 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.71 billion, a P/E ratio of 14.48 and a beta of 1.67. The stock's 50 day moving average is $11.86 and its 200 day moving average is $15.42. Kyndryl Holdings, Inc. has a twelve month low of $10.10 and a twelve month high of $40.25.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.25). The company had revenue of $3.77 billion for 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 quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, equities research analysts predict that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Kyndryl Company 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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