Jupiter Topco LLC Makes New Investment in Kyndryl Holdings, Inc. $KD

Jupiter Topco LLC purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 589,873 shares of the company’s stock, valued at approximately $6,672,000.

A number of other institutional investors and hedge funds also recently modified their holdings of KD. Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock worth $752,479,000 after acquiring an additional 144,625 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Kyndryl by 53.9% during the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after purchasing an additional 2,255,860 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kyndryl by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock valued at $124,420,000 after purchasing an additional 76,614 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kyndryl by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after purchasing an additional 63,846 shares during the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in shares of Kyndryl by 39.5% in the 1st 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 period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Up 0.1%

NYSE:KD opened at $13.21 on Monday. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.70 and a beta of 1.64. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $33.90. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The business’s fifty day moving average price is $12.53 and its 200 day moving average price is $12.53.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company posted $0.37 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KD shares. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Scotiabank cut their price target on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $16.50.

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.