Nordea Investment Management AB Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Nordea Investment Management AB reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,842 shares of the company's stock after selling 81,812 shares during the quarter. Nordea Investment Management AB owned about 0.17% of Kyndryl worth $8,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fulton Bank N.A. acquired a new stake in shares of Kyndryl in the fourth quarter valued at $238,000. Symmetry Partners LLC acquired a new position in Kyndryl in the 4th quarter valued at approximately $403,000. Public Employees Retirement System of Ohio raised its position in Kyndryl by 8.6% during the third quarter. Public Employees Retirement System of Ohio now owns 112,384 shares of the company's stock valued at $1,697,000 after acquiring an additional 8,908 shares in the last quarter. Vanguard Group Inc. raised its position in Kyndryl by 3.4% during the third quarter. Vanguard Group Inc. now owns 26,038,728 shares of the company's stock valued at $393,185,000 after acquiring an additional 844,205 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Kyndryl by 93.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 69,835 shares of the company's stock valued at $1,054,000 after acquiring an additional 33,735 shares in the last quarter. 64.89% of the stock is currently owned by institutional investors.

Kyndryl Stock Performance

NYSE KD traded down $0.79 during trading on Friday, hitting $21.56. The company's stock had a trading volume of 1,097,724 shares, compared to its average volume of 1,559,600. Kyndryl Holdings, Inc. has a 52 week low of $11.35 and a 52 week high of $22.90. The firm has a market cap of $4.96 billion, a P/E ratio of -4.93 and a beta of 1.57. The firm has a 50 day moving average price of $21.40 and a 200 day moving average price of $18.67. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03.

Kyndryl (NYSE:KD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. Equities research analysts forecast that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KD shares. JPMorgan Chase & Co. raised shares of Kyndryl from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $20.00 to $25.00 in a research report on Monday, December 18th. Susquehanna upgraded Kyndryl from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $19.00 to $27.00 in a report on Monday, February 12th. Evercore ISI upgraded Kyndryl from an "in-line" rating to an "outperform" rating and set a $26.00 target price for the company in a report on Monday, January 8th. Finally, TheStreet upgraded Kyndryl from a "d" rating to a "c" rating in a report on Tuesday, December 12th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $25.00.

Kyndryl Company Profile

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.