Kyndryl (NYSE:KD) Shares Down 4.3% – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD) traded down 4.3% during trading on Wednesday . The company traded as low as $12.90 and last traded at $12.7830. Approximately 203,116 shares changed hands during trading, a decline of 96% from the average session volume of 4,642,287 shares. The stock had previously closed at $13.36.

Analysts Set New Price Targets

A number of equities analysts recently commented on KD shares. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank cut their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, BMO Capital Markets restated a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a research note on Thursday, August 6th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $16.50.

Kyndryl Price Performance

The stock has a 50 day moving average of $12.24 and a 200-day moving average of $13.26. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $3.02 billion, a PE ratio of 37.53 and a beta of 1.65.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. Kyndryl’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts predict that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors have recently added to or reduced their stakes in KD. Public Employees Retirement System of Ohio boosted its stake in shares of Kyndryl by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock worth $2,331,000 after acquiring an additional 421 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Kyndryl by 17.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock valued at $92,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Kyndryl by 62.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock worth $62,000 after purchasing an additional 570 shares during the last quarter. Equitable Holdings Inc. grew its holdings in shares of Kyndryl by 2.8% during the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock worth $768,000 after buying an additional 698 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Kyndryl by 1.2% during the fourth quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock worth $1,556,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds 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.