Kyndryl (NYSE:KD) Trading 4.9% Higher – Time to Buy?

Kyndryl Holdings, Inc. (NYSE:KD) shares were up 4.9% during trading on Monday . The stock traded as high as $13.31 and last traded at $13.1650. Approximately 660,094 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,617,190 shares. The stock had previously closed at $12.55.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KD shares. Zacks Research downgraded Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank cut their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a report on Friday, May 8th. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $16.50.

Kyndryl Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 35.22 and a beta of 1.64. The company’s 50 day moving average is $12.37 and its 200-day moving average is $12.79.

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

Institutional Investors Weigh In On Kyndryl

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings 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 worth $4,653,000 after acquiring an additional 49,504 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Kyndryl by 15.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock valued at $252,000 after purchasing 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% in 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 valued at $23,018,000 after buying an additional 11,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Kyndryl by 116.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock valued at $110,000 after buying 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 worth $17,125,000 after buying an additional 93,726 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.