Sound Shore Management Inc. CT Has $54.42 Million Position in Kyndryl Holdings, Inc. $KD

Sound Shore Management Inc. CT increased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 39.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,147,984 shares of the company’s stock after purchasing an additional 1,173,761 shares during the period. Sound Shore Management Inc. CT’s holdings in Kyndryl were worth $54,422,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Kyndryl by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock worth $752,479,000 after buying an additional 144,625 shares during the period. AQR Capital Management LLC lifted its stake in Kyndryl by 53.9% in the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after buying an additional 2,255,860 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kyndryl by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock valued at $124,420,000 after buying an additional 76,614 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kyndryl by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after buying an additional 63,846 shares during the period. Finally, Zimmer Partners LP increased its position in shares of Kyndryl by 7.4% during the third quarter. Zimmer Partners LP now owns 2,227,904 shares of the company’s stock worth $66,904,000 after acquiring an additional 153,247 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Price Performance

NYSE KD opened at $12.16 on Monday. The firm’s 50 day moving average is $11.76 and its 200-day moving average is $14.99. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.68 billion, a PE ratio of 14.31 and a beta of 1.67. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $39.98.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The business 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%.The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KD has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Wall Street Zen cut Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna cut Kyndryl from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Morgan Stanley dropped their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Finally, Scotiabank reduced their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Kyndryl currently has an average rating of “Reduce” and an average price target of $16.67.

Kyndryl Profile

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.