Kyndryl (NYSE:KD) Raised to “Hold” at Zacks Research

Kyndryl (NYSE:KD) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday, Zacks reports.

Several other research analysts have also recently commented on KD. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a report on Thursday, August 6th. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, August 10th. Finally, Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Kyndryl presently has a consensus rating of “Reduce” and an average target price of $16.50.

Kyndryl Trading Down 2.6%

Shares of NYSE KD opened at $13.21 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. Kyndryl has a 12 month low of $10.10 and a 12 month high of $32.30. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 35.72 and a beta of 1.64. The business has a fifty day simple moving average of $12.91 and a 200-day simple moving average of $12.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after purchasing an additional 63,846 shares in the last quarter. Sound Shore Management Inc. CT grew its stake in shares of Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock valued at $54,422,000 after buying an additional 1,173,761 shares in the last quarter. Cooper Creek Partners Management LLC increased its holdings in Kyndryl by 498.5% in the first quarter. Cooper Creek Partners Management LLC now owns 3,895,949 shares of the company’s stock worth $51,115,000 after buying an additional 3,245,013 shares during the last quarter. Royce & Associates LP increased its holdings in Kyndryl by 10.8% in the fourth quarter. Royce & Associates LP now owns 1,917,036 shares of the company’s stock worth $50,916,000 after buying an additional 186,620 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Kyndryl by 12.8% during the first quarter. Bank of America Corp DE now owns 1,792,792 shares of the company’s stock valued at $23,521,000 after acquiring an additional 203,032 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Company Profile

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services support hybrid cloud environments, enterprise data centers, networks, applications and digital workplaces.

The company provides consulting and implementation services, cloud infrastructure management, cybersecurity, network and edge services, mainframe and data-center operations, and data and artificial intelligence solutions.