Kyndryl (NYSE:KD) Trading 7.3% Higher – What’s Next?

Kyndryl Holdings, Inc. (NYSE:KD) shares rose 7.3% on Wednesday . The stock traded as high as $12.28 and last traded at $12.14. 1,059,837 shares were traded during trading, a decline of 78% from the average session volume of 4,732,041 shares. The stock had previously closed at $11.31.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets initiated coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 target price on the stock. Scotiabank reduced their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Finally, Susquehanna downgraded 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 research note on Thursday, May 21st. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $22.14.

Kyndryl Trading Up 7.4%

The company’s fifty day moving average is $12.17 and its 200-day moving average is $16.35. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $2.68 billion, a P/E ratio of 14.30 and a beta of 1.66.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The firm had revenue of $3.77 billion for 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 firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of Kyndryl

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Royal Bank of Canada boosted its position in shares of Kyndryl by 50.2% in the first quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock valued at $4,653,000 after acquiring an additional 49,504 shares during the period. Integrated Wealth Concepts LLC raised its stake in Kyndryl by 15.8% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Kyndryl by 1.5% during 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 purchasing an additional 11,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 1,410 shares during the period. Finally, First Trust Advisors LP grew its position in Kyndryl by 29.8% in the 2nd quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock worth $17,125,000 after purchasing an additional 93,726 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

About Kyndryl

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.