Kyndryl (NYSE:KD) Issues Earnings Results

Kyndryl (NYSE:KD) announced its quarterly earnings data on Monday. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.08), FiscalAI reports. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.89 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%.

Kyndryl Price Performance

NYSE:KD opened at $23.53 on Monday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 13.92 and a beta of 1.84. Kyndryl has a 52 week low of $20.62 and a 52 week high of $44.20. The firm’s 50-day simple moving average is $25.83 and its 200 day simple moving average is $28.48.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KD. Scotiabank assumed coverage on Kyndryl in a report on Tuesday, January 27th. They set an “outperform” rating for the company. JPMorgan Chase & Co. reduced their target price on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Guggenheim cut their price target on Kyndryl from $30.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Finally, Susquehanna set a $35.00 price objective on shares of Kyndryl in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Insider Activity at Kyndryl

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

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently bought and sold shares of KD. AQR Capital Management LLC raised its holdings in shares of Kyndryl by 386.2% during the 3rd quarter. AQR Capital Management LLC now owns 4,187,177 shares of the company’s stock worth $125,113,000 after buying an additional 3,326,025 shares in the last quarter. Zimmer Partners LP boosted its holdings in shares of Kyndryl by 7.4% during the 3rd quarter. Zimmer Partners LP now owns 2,227,904 shares of the company’s stock valued at $66,904,000 after acquiring an additional 153,247 shares in the last quarter. UBS Group AG boosted its position in Kyndryl by 50.0% during the 3rd quarter. UBS Group AG now owns 2,028,338 shares of the company’s stock worth $60,911,000 after buying an additional 675,943 shares during the period. Bank of America Corp DE raised its stake in shares of Kyndryl by 0.7% during the third quarter. Bank of America Corp DE now owns 1,779,779 shares of the company’s stock valued at $53,447,000 after acquiring an additional 12,205 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Kyndryl by 0.7% during the second quarter. Qube Research & Technologies Ltd now owns 1,079,253 shares of the company’s stock worth $45,285,000 after purchasing an additional 7,007 shares during the period. 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.