Norges Bank Takes $19.54 Million Position in Kyndryl Holdings, Inc. $KD

Norges Bank bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 735,671 shares of the company’s stock, valued at approximately $19,539,000. Norges Bank owned about 0.32% of Kyndryl as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Kyndryl by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock worth $752,479,000 after acquiring an additional 144,625 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Kyndryl by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 4,607,829 shares of the company’s stock worth $138,375,000 after acquiring an additional 180,237 shares during the last quarter. Geode Capital Management LLC increased its stake in Kyndryl by 1.5% during the fourth 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. AQR Capital Management LLC increased its stake in Kyndryl by 386.2% during the third 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 last quarter. Finally, Zimmer Partners LP increased its stake in Kyndryl by 7.4% during the third quarter. Zimmer Partners LP now owns 2,227,904 shares of the company’s stock worth $66,904,000 after acquiring an additional 153,247 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Up 0.0%

Shares of NYSE:KD opened at $11.57 on Wednesday. Kyndryl Holdings, Inc. has a 1 year low of $10.10 and a 1 year high of $44.20. The business has a 50 day simple moving average of $12.74 and a two-hundred day simple moving average of $17.88. The firm has a market capitalization of $2.54 billion, a PE ratio of 13.61 and a beta of 1.66. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. On average, equities analysts predict that Kyndryl Holdings, Inc. will post 1.59 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Guggenheim cut Kyndryl from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 10th. Zacks Research cut Kyndryl from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings cut Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. Finally, BMO Capital Markets began coverage on Kyndryl in a research report on Monday, April 20th. They set a “market perform” rating and a $15.00 target price for the company. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kyndryl presently has a consensus rating of “Reduce” and a consensus price target of $22.14.

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.