Kyndryl Holdings, Inc. $KD Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 2,985.2% in the 1st quarter, Holdings Channel reports. The fund owned 60,131 shares of the company’s stock after buying an additional 58,182 shares during the period. Fifth Third Bancorp’s holdings in Kyndryl were worth $789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Kyndryl by 386.2% in the third quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after purchasing an additional 3,326,025 shares in the last quarter. Sound Shore Management Inc. CT grew its holdings in Kyndryl by 46.1% during the fourth quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock worth $78,995,000 after acquiring an additional 939,154 shares during the period. Norges Bank acquired a new position in Kyndryl during the fourth quarter worth about $19,539,000. UBS Group AG raised its position in Kyndryl by 50.0% in the third quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after acquiring an additional 675,943 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Kyndryl by 39.5% in the second quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock worth $74,167,000 after acquiring an additional 500,309 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $12.79 on Tuesday. The firm’s 50 day simple moving average is $11.84 and its 200-day simple moving average is $14.39. The company has a market cap of $2.82 billion, a P/E ratio of 15.05 and a beta of 1.67. 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 Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $39.98.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The firm had revenue of $3.77 billion during 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 revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. As a group, equities research analysts predict that Kyndryl Holdings, Inc. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KD shares. BMO Capital Markets began coverage on shares of Kyndryl in a research report on Monday, April 20th. They set a “market perform” rating and a $15.00 price objective for the company. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their target price for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, Scotiabank decreased their price target on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $16.67.

Kyndryl 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.