Kyndryl (NYSE:KD) Trading Up 7.3% – Should You Buy?

Shares of Kyndryl Holdings, Inc. (NYSE:KD) traded up 7.3% during mid-day trading on Wednesday . The company traded as high as $12.28 and last traded at $12.14. Approximately 1,059,837 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,732,041 shares. The stock had previously closed at $11.31.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KD shares. Scotiabank reduced their price target 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. BMO Capital Markets began coverage on shares of Kyndryl in a research note on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective on the stock. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Six 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 currently has a consensus rating of “Reduce” and a consensus target price of $22.14.

Kyndryl Stock Up 2.3%

The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day simple moving average of $12.08 and a 200-day simple moving average of $16.14. The company has a market capitalization of $2.71 billion, a PE ratio of 14.44 and a beta of 1.67.

Kyndryl (NYSE:KD) last released its quarterly earnings results 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). 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 firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 acquiring an additional 3,326,025 shares during the last quarter. Cooper Creek Partners Management LLC grew its holdings in shares of Kyndryl by 498.5% during the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock valued at $51,115,000 after purchasing an additional 3,245,013 shares during the last quarter. Sound Shore Management Inc. CT grew its holdings in shares of Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after purchasing an additional 1,173,761 shares during the last quarter. Norges Bank acquired a new stake in shares of Kyndryl during the 4th quarter worth approximately $19,539,000. Finally, UBS Group AG raised its position in shares of Kyndryl by 50.0% during 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. Institutional investors own 71.53% of the company’s stock.

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.