Royce & Associates LP Buys 186,620 Shares of Kyndryl Holdings, Inc. $KD

Royce & Associates LP lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,917,036 shares of the company’s stock after purchasing an additional 186,620 shares during the period. Royce & Associates LP owned 0.84% of Kyndryl worth $50,916,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KD. AQR Capital Management LLC lifted its holdings in Kyndryl by 386.2% in the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after buying an additional 3,326,025 shares during the period. Sound Shore Management Inc CT bought a new stake in shares of Kyndryl during the third quarter valued at approximately $61,113,000. Vanguard Group Inc. grew its position in Kyndryl by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after purchasing an additional 1,619,048 shares during the period. UBS Group AG grew its position in Kyndryl by 50.0% in the 3rd quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after purchasing an additional 675,943 shares during the period. Finally, Federated Hermes Inc. grew its position in Kyndryl by 1,167.1% in the 3rd quarter. Federated Hermes Inc. now owns 691,496 shares of the company’s stock worth $20,766,000 after purchasing an additional 636,925 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Down 0.1%

NYSE:KD opened at $12.28 on Tuesday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 14.44 and a beta of 1.72. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $12.84 and its 200-day moving average price is $18.91. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.29%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.59 EPS for the current year.

Analyst Ratings Changes

KD has been the topic of several analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Kyndryl in a research note on Monday, February 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $13.00 in a report on Thursday. BMO Capital Markets began coverage on shares of Kyndryl in a report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a report on Tuesday, February 10th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kyndryl presently has a consensus rating of “Reduce” and a consensus price target of $22.14.

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.