Hsbc Holdings PLC Buys 38,771 Shares of Kyndryl Holdings, Inc. $KD

Hsbc Holdings PLC raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 53.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,584 shares of the company’s stock after buying an additional 38,771 shares during the period. Hsbc Holdings PLC’s holdings in Kyndryl were worth $1,241,000 at the end of the most recent quarter.

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

Kyndryl Stock Performance

NYSE:KD opened at $13.53 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $33.90. The company has a 50 day simple moving average of $12.59 and a two-hundred day simple moving average of $12.55. The company has a market capitalization of $2.95 billion, a PE ratio of 36.57 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on KD shares. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Scotiabank lowered their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, August 10th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $16.50.

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.