Kyndryl Holdings, Inc. (NYSE:KD) Receives $38.00 Consensus PT from Analysts

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $38.00.

Several research analysts have recently weighed in on KD shares. Morgan Stanley began coverage on Kyndryl in a research report on Friday, September 26th. They set an “equal weight” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Guggenheim upgraded shares of Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th.

Kyndryl Stock Up 0.0%

Shares of KD stock opened at $27.27 on Friday. Kyndryl has a 12-month low of $23.28 and a 12-month high of $44.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. The firm has a fifty day moving average of $26.23 and a 200-day moving average of $30.81. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.14 and a beta of 1.85.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. As a group, equities research analysts predict that Kyndryl will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the transaction, the senior vice president directly owned 59,708 shares in the company, valued at $1,593,606.52. This represents a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Kyndryl by 6.1% in the third quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock valued at $846,446,000 after purchasing an additional 1,619,048 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Kyndryl by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,607,829 shares of the company’s stock valued at $138,375,000 after purchasing an additional 180,237 shares during the period. Geode Capital Management LLC boosted its stake in Kyndryl by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 4,277,559 shares of the company’s stock valued at $179,515,000 after purchasing an additional 203,986 shares during the period. AQR Capital Management LLC grew 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 valued at $125,113,000 after buying an additional 3,326,025 shares in the last quarter. Finally, Zimmer Partners LP increased its position in Kyndryl by 7.4% during the 3rd quarter. Zimmer Partners LP now owns 2,227,904 shares of the company’s stock worth $66,904,000 after buying an additional 153,247 shares during the period. Institutional investors own 71.53% of the company’s stock.

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.