OP Asset Management Ltd Makes New $5.36 Million Investment in Kyndryl Holdings, Inc. $KD

OP Asset Management Ltd purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the first quarter, according to its most recent filing with the SEC. The firm purchased 408,819 shares of the company’s stock, valued at approximately $5,364,000.

Other large investors have also recently made changes to their positions in the company. LMG Wealth Partners LLC purchased a new stake in shares of Kyndryl during the 1st quarter worth $131,000. Hsbc Holdings PLC raised its holdings in Kyndryl by 421.2% in the fourth quarter. Hsbc Holdings PLC now owns 248,130 shares of the company’s stock worth $6,558,000 after purchasing an additional 200,522 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Kyndryl by 4.0% during the fourth quarter. Corient Private Wealth LLC now owns 51,983 shares of the company’s stock valued at $1,381,000 after buying an additional 2,016 shares during the last quarter. Invesco Ltd. lifted its position in shares of Kyndryl by 26.6% during the fourth quarter. Invesco Ltd. now owns 2,213,986 shares of the company’s stock valued at $58,803,000 after buying an additional 465,539 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Kyndryl by 4.9% in the 4th quarter. Empowered Funds LLC now owns 67,083 shares of the company’s stock valued at $1,782,000 after buying an additional 3,118 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Kyndryl in a research report on Monday, June 15th. Scotiabank lowered their target price on shares of 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 assumed coverage on shares of Kyndryl in a report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Finally, Morgan Stanley reduced their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kyndryl currently has an average rating of “Reduce” and an average price target of $22.14.

Kyndryl Price Performance

Shares of KD stock opened at $11.32 on Friday. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $44.20. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 13.32 and a beta of 1.66. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day simple moving average is $12.29 and its 200-day simple moving average is $16.64.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.25). The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, equities analysts forecast that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Kyndryl Company 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.