Rock Creek Group LLC Buys New Position in Kyndryl Holdings, Inc. $KD

Rock Creek Group LLC bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,068 shares of the company’s stock, valued at approximately $676,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KD. Western Wealth Management LLC purchased a new position in Kyndryl in the 1st quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in shares of Kyndryl during the second quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kyndryl during the third quarter worth $26,000. Versant Capital Management Inc increased its position in shares of Kyndryl by 104.1% during the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock worth $27,000 after acquiring an additional 1,233 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Kyndryl by 44.8% during the second quarter. IFP Advisors Inc now owns 3,256 shares of the company’s stock worth $37,000 after acquiring an additional 1,008 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

KD has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on Kyndryl from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Susquehanna boosted their target price on Kyndryl from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Zacks Research upgraded Kyndryl from a “hold” rating to a “strong-buy” rating in a report on Thursday. BMO Capital Markets restated a “market perform” rating and set a $16.00 price target on shares of Kyndryl in a report on Thursday, August 6th. Finally, Scotiabank increased their price target on Kyndryl from $15.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.67.

Kyndryl Stock Down 1.5%

Kyndryl stock traded down $0.25 during trading on Friday, reaching $16.81. The stock had a trading volume of 2,122,952 shares, compared to its average volume of 4,600,816. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $27.83. The business has a 50 day moving average price of $13.41 and a 200 day moving average price of $13.19. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.79. The stock has a market cap of $3.66 billion, a PE ratio of 48.02 and a beta of 1.62.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. Kyndryl had a net margin of 0.52% and a return on equity of 13.21%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.

Kyndryl Company Profile

Kyndryl Holdings, Inc. is an information technology services company that helps organizations design, build, manage and modernize the technology systems they rely on for daily operations. Its services include managing cloud and data-center environments, applications, networks, mainframe systems, cybersecurity and digital workplaces. The company was formed from IBM’s managed infrastructure services business and began operating as an independent public company in 2021. Kyndryl serves customers across a range of industries and geographies, helping them maintain and update complex technology environments.