Legal & General Group Plc Decreases Stake in Kyndryl Holdings, Inc. $KD

by · The Markets Daily

Legal & General Group Plc lessened its stake in Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,876 shares of the company’s stock after selling 87,489 shares during the quarter. Legal & General Group Plc owned about 0.18% of Kyndryl worth $10,647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KD. AQR Capital Management LLC boosted its holdings in Kyndryl by 386.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after acquiring an additional 3,326,025 shares during the period. Sound Shore Management Inc CT purchased a new position in Kyndryl in the 3rd quarter worth approximately $61,113,000. Vanguard Group Inc. boosted its holdings in Kyndryl by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after acquiring an additional 1,619,048 shares during the period. UBS Group AG boosted its holdings in Kyndryl by 50.0% in 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. Finally, Bank of America Corp DE boosted its holdings in Kyndryl by 39.5% in the 2nd quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock worth $74,167,000 after acquiring an additional 500,309 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley decreased their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Zacks Research cut Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Oppenheimer restated a “market perform” rating on shares of Kyndryl in a report on Monday, February 9th. Six investment 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.com, the company presently has a consensus rating of “Reduce” and an average target price of $22.14.

Check Out Our Latest Stock Analysis on Kyndryl

Kyndryl Stock Performance

Kyndryl stock opened at $12.29 on Thursday. The company has a market cap of $2.70 billion, a PE ratio of 14.46 and a beta of 1.66. The company has a fifty day moving average price of $12.81 and a two-hundred day moving average price of $18.23. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.86. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $44.20.

Kyndryl (NYSE:KD – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts expect that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current year.

Kyndryl Company Profile

(Free Report)

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.

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