Ieq Capital LLC Has $3.46 Million Stock Position in Kyndryl Holdings, Inc. $KD

Ieq Capital LLC lifted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 24.5% during the second quarter, HoldingsChannel reports. The firm owned 306,404 shares of the company’s stock after acquiring an additional 60,373 shares during the quarter. Ieq Capital LLC’s holdings in Kyndryl were worth $3,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KD. Royal Bank of Canada raised its position in Kyndryl by 50.2% during the first 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 grew its position in shares of Kyndryl by 15.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock valued at $252,000 after acquiring an additional 1,093 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Kyndryl by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock valued at $23,018,000 after acquiring an additional 11,177 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Kyndryl by 116.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock worth $110,000 after purchasing an additional 1,410 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Kyndryl by 29.8% during the 2nd quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock worth $17,125,000 after purchasing an additional 93,726 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Kyndryl from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 target price on shares of Kyndryl in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Kyndryl currently has a consensus rating of “Reduce” and an average price target of $16.50.

Kyndryl Price Performance

Shares of NYSE:KD opened at $12.73 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $33.90. The firm has a market cap of $2.77 billion, a PE ratio of 34.42 and a beta of 1.64. The firm’s fifty day moving average is $12.40 and its 200-day moving average is $12.73.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.Kyndryl’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 1.36 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.