Rockefeller Capital Management L.P. Sells 172,489 Shares of Kyndryl Holdings, Inc. $KD

Rockefeller Capital Management L.P. lowered its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,296 shares of the company’s stock after selling 172,489 shares during the period. Rockefeller Capital Management L.P.’s holdings in Kyndryl were worth $10,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Kyndryl by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock valued at $2,331,000 after acquiring an additional 421 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Kyndryl by 17.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after purchasing an additional 448 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Kyndryl by 3.4% during the third quarter. Crossmark Global Holdings Inc. now owns 14,625 shares of the company’s stock valued at $439,000 after purchasing an additional 487 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 570 shares in the last quarter. Finally, Equitable Holdings Inc. grew its stake in Kyndryl by 2.8% in the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock valued at $768,000 after purchasing an additional 698 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 0.3%

NYSE KD opened at $11.10 on Thursday. The company has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $16.79. The stock has a market cap of $2.45 billion, a P/E ratio of 13.06 and a beta of 1.66. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $44.20. 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 (NYSE:KD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts forecast that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

KD has been the subject of a number of recent research reports. Scotiabank reduced their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Morgan Stanley cut their price objective on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Finally, Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kyndryl currently has an average rating of “Reduce” and a consensus price target of $22.14.

Kyndryl 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.