Corient Private Wealth LP Grows Stock Holdings in Kyndryl Holdings, Inc. $KD

Corient Private Wealth LP lifted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 768.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,657 shares of the company’s stock after buying an additional 85,529 shares during the period. Corient Private Wealth LP’s holdings in Kyndryl were worth $1,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Kyndryl by 386.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock valued at $125,113,000 after purchasing an additional 3,326,025 shares during the period. Cooper Creek Partners Management LLC lifted its position in shares of Kyndryl by 498.5% in the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after purchasing an additional 3,245,013 shares in the last quarter. Sound Shore Management Inc. CT boosted its holdings in Kyndryl by 39.5% during the first quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after purchasing an additional 1,173,761 shares during the last quarter. Norges Bank bought a new stake in Kyndryl during the fourth quarter worth about $19,539,000. Finally, UBS Group AG boosted its stake 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 acquiring an additional 675,943 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 1.3%

Shares of Kyndryl stock opened at $13.16 on Friday. The stock has a market capitalization of $2.87 billion, a P/E ratio of 35.57 and a beta of 1.64. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $33.90. 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 stock’s 50-day simple moving average is $12.75 and its 200 day simple moving average is $12.58.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, research analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KD shares. JPMorgan Chase & Co. raised their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Scotiabank reduced their price target on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Wall Street Zen lowered 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 dropped their target price for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Zacks Research downgraded shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus 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.