Kyndryl Holdings, Inc. $KD Shares Acquired by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 46.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,974,223 shares of the company’s stock after acquiring an additional 939,154 shares during the quarter. Kyndryl accounts for approximately 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 24th largest holding. Sound Shore Management Inc. CT owned about 1.30% of Kyndryl worth $78,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Kyndryl by 192.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock worth $35,000 after acquiring an additional 770 shares during the period. NBT Bank N A NY increased its stake in shares of Kyndryl by 3,220.0% during the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after acquiring an additional 1,288 shares during the period. Optiver Holding B.V. acquired a new position in shares of Kyndryl during the third quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after acquiring an additional 1,432 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter worth about $39,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KD. Morgan Stanley dropped their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. lowered shares of Kyndryl from an “overweight” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research report on Monday, February 9th. Finally, Guggenheim lowered shares of Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $22.14.

Kyndryl Trading Down 2.5%

Shares of KD opened at $12.29 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.77. The firm’s 50-day moving average is $12.81 and its two-hundred day moving average is $18.23. Kyndryl Holdings, Inc. has a twelve month low of $10.10 and a twelve month high of $44.20. The firm has a market capitalization of $2.70 billion, a P/E ratio of 14.46 and a beta of 1.66.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts predict that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current fiscal 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.