Kyndryl Holdings, Inc. $KD Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 17.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 400,876 shares of the company’s stock after selling 87,489 shares during the period. Legal & General Group Plc’s holdings in Kyndryl were worth $10,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kyndryl Trading Down 2.5%

Shares of KD opened at $12.29 on Thursday. The business’s 50-day moving average price is $12.81 and its 200 day moving average price is $18.23. 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 stock has a market capitalization of $2.70 billion, a P/E ratio of 14.46 and a beta of 1.66. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen lowered Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Guggenheim lowered Kyndryl from a “buy” rating to a “neutral” rating in a report on Tuesday, February 10th. BMO Capital Markets initiated coverage on Kyndryl in a report on Monday, April 20th. They set a “market perform” rating and a $15.00 price target on the stock. Oppenheimer reissued a “market perform” rating on shares of Kyndryl in a report on Monday, February 9th. Finally, Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $22.14.

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.