Federated Hermes Inc. Increases Position in Kyndryl Holdings, Inc. $KD

Federated Hermes Inc. increased its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 1,167.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 691,496 shares of the company’s stock after acquiring an additional 636,925 shares during the quarter. Federated Hermes Inc. owned approximately 0.30% of Kyndryl worth $20,766,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Kyndryl by 50.2% during the 1st quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock worth $4,653,000 after acquiring an additional 49,504 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Kyndryl by 15.8% during the first quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $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 grew its stake in Kyndryl by 1.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock worth $23,018,000 after purchasing an additional 11,177 shares in the last quarter. Signaturefd LLC increased its holdings in Kyndryl by 156.8% in the second quarter. Signaturefd LLC now owns 3,970 shares of the company’s stock valued at $167,000 after buying an additional 2,424 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Kyndryl by 3.7% during the second quarter. Janney Montgomery Scott LLC now owns 21,508 shares of the company’s stock valued at $903,000 after buying an additional 758 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on KD. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Guggenheim upgraded Kyndryl to a “strong-buy” rating in a research note on Wednesday, November 26th. Scotiabank began coverage on shares of Kyndryl in a research note on Tuesday. They set an “outperform” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Susquehanna set a $35.00 price target on shares of Kyndryl in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the transaction, the senior vice president owned 59,708 shares in the company, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by insiders.

Kyndryl Trading Down 1.3%

Shares of NYSE:KD opened at $23.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average price is $26.06 and its 200 day moving average price is $29.19. The company has a market cap of $5.26 billion, a PE ratio of 13.61 and a beta of 1.85. Kyndryl Holdings, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $44.20.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

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.