Kyndryl Holdings, Inc. $KD is Bastion Asset Management Inc.’s 3rd Largest Position

Bastion Asset Management Inc. raised its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 41.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 334,884 shares of the company’s stock after buying an additional 98,943 shares during the quarter. Kyndryl comprises approximately 5.0% of Bastion Asset Management Inc.’s portfolio, making the stock its 3rd biggest position. Bastion Asset Management Inc.’s holdings in Kyndryl were worth $9,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd lifted its position in Kyndryl by 9.5% during the fourth quarter. Covestor Ltd now owns 33,819 shares of the company’s stock valued at $898,000 after buying an additional 2,938 shares during the period. Handelsbanken Fonder AB lifted its position in Kyndryl by 1.2% during the fourth quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock valued at $1,556,000 after buying an additional 700 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Kyndryl by 55.6% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 12,600 shares of the company’s stock valued at $335,000 after buying an additional 4,500 shares during the period. Gamco Investors INC. ET AL lifted its position in Kyndryl by 1.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 173,465 shares of the company’s stock valued at $4,607,000 after buying an additional 2,750 shares during the period. Finally, Gabelli Funds LLC lifted its position in Kyndryl by 29.4% during the fourth quarter. Gabelli Funds LLC now owns 64,437 shares of the company’s stock valued at $1,711,000 after buying an additional 14,653 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KD shares. Guggenheim lowered Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Morgan Stanley lowered their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. lowered Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 price target for the company. in a research report on Monday, February 9th. Finally, Susquehanna lowered their price target on Kyndryl from $35.00 to $16.00 and set a “positive” rating for the company in a research report on Friday, February 13th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $22.57.

Kyndryl Trading Up 2.7%

Shares of NYSE:KD opened at $12.03 on Wednesday. The stock has a 50 day moving average of $12.88 and a 200 day moving average of $19.37. The company has a market cap of $2.71 billion, a PE ratio of 14.15 and a beta of 1.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.75. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $44.20.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.25). The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.29%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that Kyndryl Holdings, Inc. will post 1.81 EPS for the current year.

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.