New York State Common Retirement Fund Sells 96,511 Shares of Kyndryl Holdings, Inc. $KD

by · The Markets Daily

New York State Common Retirement Fund reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 21.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 360,514 shares of the company’s stock after selling 96,511 shares during the quarter. New York State Common Retirement Fund’s holdings in Kyndryl were worth $15,127,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. ST Germain D J Co. Inc. raised its holdings in shares of Kyndryl by 135.2% during the second quarter. ST Germain D J Co. Inc. now owns 668 shares of the company’s stock valued at $28,000 after acquiring an additional 384 shares in the last quarter. Assetmark Inc. increased its position in Kyndryl by 75.3% during the 2nd quarter. Assetmark Inc. now owns 775 shares of the company’s stock valued at $33,000 after purchasing an additional 333 shares during the period. Quarry LP purchased a new position in Kyndryl during the 1st quarter valued at $28,000. Compass Financial Services Inc bought a new position in Kyndryl in the 1st quarter worth $30,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Kyndryl in the 1st quarter worth about $31,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Susquehanna set a $35.00 price target on shares of Kyndryl in a research report on Thursday, November 6th. Morgan Stanley began coverage on Kyndryl in a research report on Friday, September 26th. They set an “equal weight” rating and a $30.00 price objective on the stock. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their target price on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Guggenheim upgraded Kyndryl to a “strong-buy” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Get Our Latest Analysis on Kyndryl

Kyndryl Stock Down 1.1%

Shares of NYSE:KD opened at $25.62 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.24. The stock has a fifty day simple moving average of $27.53 and a two-hundred day simple moving average of $33.37. Kyndryl Holdings, Inc. has a 12-month low of $23.28 and a 12-month high of $44.20. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 15.16 and a beta of 1.85.

Kyndryl (NYSE:KD – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, topping 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 firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Kyndryl Profile

(Free Report)

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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