Kyndryl Holdings, Inc. (NYSE:KD) Given Consensus Recommendation of “Reduce” by Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been given a consensus recommendation of “Reduce” by the nine research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.50.

A number of analysts have recently issued reports on KD shares. Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank lowered their price objective 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. 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 note on Thursday, May 21st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th.

Institutional Investors Weigh In On Kyndryl

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Kyndryl by 50.2% during the first quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock valued at $4,653,000 after buying an additional 49,504 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Kyndryl by 15.8% in the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $252,000 after acquiring an additional 1,093 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kyndryl by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock worth $23,018,000 after acquiring an additional 11,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Kyndryl by 116.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock worth $110,000 after acquiring an additional 1,410 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Kyndryl by 29.8% during the 2nd quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock valued at $17,125,000 after purchasing an additional 93,726 shares during the period. 71.53% of the stock is owned by institutional investors.

Kyndryl Price Performance

Shares of KD stock opened at $13.21 on Friday. Kyndryl 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 firm has a market capitalization of $2.88 billion, a P/E ratio of 35.70 and a beta of 1.65. The stock has a 50 day moving average price of $12.53 and a 200 day moving average price of $12.52.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the company posted $0.37 EPS. Kyndryl’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Kyndryl will post 1.36 earnings per share for the current year.

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.