Kyndryl (NYSE:KD) Shares Down 4.3% – What’s Next?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price was down 4.3% during trading on Wednesday . The company traded as low as $12.90 and last traded at $12.7830. 203,116 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 4,642,287 shares. The stock had previously closed at $13.36.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KD shares. Scotiabank reduced their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $16.50.

Kyndryl Trading Down 3.6%

The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 34.81 and a beta of 1.65. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average price of $12.19 and a 200 day moving average price of $13.41.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Kyndryl by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock worth $2,331,000 after buying an additional 421 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kyndryl by 17.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after acquiring an additional 448 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Kyndryl by 62.2% during the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock valued at $62,000 after acquiring an additional 570 shares during the period. Equitable Holdings Inc. increased its stake in shares of Kyndryl by 2.8% during the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock valued at $768,000 after acquiring an additional 698 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Kyndryl by 1.2% during the fourth quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock worth $1,556,000 after purchasing an additional 700 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

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.