Kyndryl (NYSE:KD) Hits New 1-Year Low – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $20.62 and last traded at $22.2050, with a volume of 6469795 shares. The stock had previously closed at $23.31.

Analyst Ratings Changes

Several research analysts have commented on KD shares. Susquehanna set a $35.00 target price on Kyndryl in a report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Scotiabank began coverage on shares of Kyndryl in a report on Tuesday, January 27th. They issued an “outperform” rating on the stock. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Guggenheim cut their price target on Kyndryl from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kyndryl currently has an average rating of “Moderate Buy” and an average price target of $37.60.

Kyndryl Stock Up 6.6%

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. The stock has a 50 day simple moving average of $25.87 and a 200 day simple moving average of $28.73. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 13.92 and a beta of 1.84.

Kyndryl (NYSE:KD) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. Kyndryl’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. As a group, analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the sale, the senior vice president directly owned 59,708 shares of the company’s stock, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its holdings in Kyndryl by 75.3% during the 2nd quarter. Assetmark Inc. now owns 775 shares of the company’s stock worth $33,000 after acquiring an additional 333 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Kyndryl by 192.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company’s stock valued at $35,000 after purchasing an additional 770 shares in the last quarter. NBT Bank N A NY lifted its position in shares of Kyndryl by 3,220.0% during the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Kyndryl by 4,475.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock worth $39,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Kyndryl in the 4th quarter worth about $39,000. Institutional investors own 71.53% of the company’s stock.

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.