Kyndryl (NYSE:KD) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Kyndryl (NYSE:KD) released its earnings results on Monday. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08), FiscalAI reports. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion.

Kyndryl Stock Up 6.6%

KD opened at $23.53 on Monday. Kyndryl has a twelve month low of $20.62 and a twelve month high of $44.20. The company’s 50-day moving average price is $25.83 and its two-hundred day moving average price is $28.48. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 13.92 and a beta of 1.84. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24.

Insider Activity at Kyndryl

In related news, SVP Vineet Khurana sold 6,641 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the transaction, the senior vice president owned 59,708 shares in the company, valued at approximately $1,593,606.52. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kyndryl

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in shares of Kyndryl by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock valued at $2,331,000 after purchasing an additional 421 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Kyndryl by 17.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock worth $92,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Kyndryl by 62.2% in the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock valued at $62,000 after purchasing an additional 570 shares in the last quarter. Equitable Holdings Inc. lifted its position in Kyndryl by 2.8% during the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock valued at $768,000 after purchasing an additional 698 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Kyndryl by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 190,036 shares of the company’s stock worth $5,717,000 after buying an additional 748 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Guggenheim dropped their price target on shares of Kyndryl from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Scotiabank started coverage on Kyndryl in a research report on Tuesday, January 27th. They issued an “outperform” rating for the company. Finally, Susquehanna set a $35.00 price objective on shares of Kyndryl in a report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kyndryl has a consensus rating of “Moderate Buy” and an average target price of $37.60.

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.