Kyndryl Holdings, Inc. $KD Stock Position Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 747.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 305,607 shares of the company’s stock after purchasing an additional 269,554 shares during the period. BNP Paribas Financial Markets’ holdings in Kyndryl were worth $8,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Kyndryl by 6.1% during the third quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock valued at $846,446,000 after purchasing an additional 1,619,048 shares in the last quarter. ING Groep NV purchased a new position in Kyndryl during the third quarter valued at approximately $9,188,000. Arnhold LLC grew its position in Kyndryl by 19.5% during the third quarter. Arnhold LLC now owns 1,010,671 shares of the company’s stock valued at $30,350,000 after purchasing an additional 164,856 shares in the last quarter. Douglas Lane & Associates LLC grew its position in Kyndryl by 17.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock valued at $25,561,000 after purchasing an additional 146,257 shares in the last quarter. Finally, Sound Shore Management Inc CT purchased a new position in Kyndryl during the third quarter valued at approximately $61,113,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $11.57 on Wednesday. The firm has a fifty day simple moving average of $12.74 and a 200-day simple moving average of $17.88. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 13.61 and a beta of 1.66.

Kyndryl (NYSE:KD) last issued 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). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Kyndryl’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Guggenheim cut shares of Kyndryl from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings cut shares of Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. BMO Capital Markets assumed coverage on shares of Kyndryl in a research note on Monday, April 20th. They issued a “market perform” rating and a $15.00 target price for the company. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Zacks Research cut shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $22.14.

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.