Kyndryl (NYSE:KD) Stock Rating Lowered by Wall Street Zen

Kyndryl (NYSE:KD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities analysts have also recently issued reports on the company. Susquehanna reduced their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer boosted their target price on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th.

Kyndryl Stock Performance

Shares of KD traded down $0.15 during mid-day trading on Friday, reaching $39.42. 1,087,756 shares of the company's stock were exchanged, compared to its average volume of 2,020,203. The business's fifty day simple moving average is $39.93 and its 200-day simple moving average is $37.03. Kyndryl has a 52-week low of $21.34 and a 52-week high of $44.20. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $9.12 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.93.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts expect that Kyndryl will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the transaction, the senior vice president directly owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KD. American Century Companies Inc. lifted its holdings in shares of Kyndryl by 15.1% in the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock worth $12,893,000 after acquiring an additional 48,809 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kyndryl by 44.1% in the 1st quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after purchasing an additional 1,323 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Kyndryl by 121.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock valued at $652,000 after purchasing an additional 11,395 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Kyndryl by 0.5% during the first quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Kyndryl in the fourth quarter worth $11,359,000. Institutional investors and hedge funds own 71.53% of the company's stock.

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.