Quantinno Capital Management LP Purchases 65,319 Shares of Kyndryl Holdings, Inc. $KD

Quantinno Capital Management LP grew its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 132.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,691 shares of the company’s stock after buying an additional 65,319 shares during the quarter. Quantinno Capital Management LP owned 0.05% of Kyndryl worth $1,505,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl in the fourth quarter valued at approximately $29,000. Quarry LP purchased a new stake in Kyndryl during the fourth quarter worth about $31,000. NFSG Corp increased its holdings in Kyndryl by 177.2% during the first quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after buying an additional 1,809 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Kyndryl in the fourth quarter worth about $39,000. Finally, International Assets Investment Management LLC bought a new stake in Kyndryl in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Upgrades and Downgrades

KD has been the subject of several research reports. Scotiabank cut their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research note on Thursday, August 6th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Weiss Ratings lowered Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Kyndryl currently has a consensus rating of “Reduce” and an average target price of $16.50.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $13.05 on Thursday. The firm has a market capitalization of $2.84 billion, a PE ratio of 35.27 and a beta of 1.65. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $33.90. The business’s 50-day moving average price is $12.21 and its 200-day moving average price is $13.33.

Kyndryl (NYSE:KD) last released its 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. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company posted $0.37 EPS. Kyndryl’s quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal 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.