Hsbc Holdings PLC Lowers Stock Position in Kyndryl Holdings, Inc. $KD

Hsbc Holdings PLC decreased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 70.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 72,813 shares of the company’s stock after selling 175,317 shares during the period. Hsbc Holdings PLC’s holdings in Kyndryl were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Waterfront Wealth Inc. acquired a new stake in shares of Kyndryl in the 1st quarter valued at approximately $2,740,000. Kestra Advisory Services LLC grew its holdings in Kyndryl by 49.4% during the first quarter. Kestra Advisory Services LLC now owns 11,266 shares of the company’s stock worth $148,000 after acquiring an additional 3,727 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Kyndryl by 3.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,939 shares of the company’s stock worth $616,000 after acquiring an additional 1,500 shares during the period. HB Wealth Management LLC grew its holdings in Kyndryl by 122.3% during the first quarter. HB Wealth Management LLC now owns 18,625 shares of the company’s stock worth $244,000 after acquiring an additional 10,246 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Kyndryl in the first quarter worth $840,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Up 5.3%

KD opened at $14.06 on Thursday. The firm has a market cap of $3.10 billion, a P/E ratio of 16.54 and a beta of 1.67. The business’s fifty day simple moving average is $11.90 and its 200 day simple moving average is $14.20. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $39.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank cut their price target 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $16.67.

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.