CenterBook Partners LP Purchases New Position in Kyndryl Holdings, Inc. $KD

CenterBook Partners LP purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 77,676 shares of the company’s stock, valued at approximately $2,063,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Kyndryl by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock valued at $846,446,000 after purchasing an additional 1,619,048 shares during the last quarter. ING Groep NV bought a new stake in shares of Kyndryl during the 3rd quarter valued at approximately $9,188,000. Arnhold LLC grew its holdings in shares of Kyndryl by 19.5% during the 3rd quarter. Arnhold LLC now owns 1,010,671 shares of the company’s stock valued at $30,350,000 after purchasing an additional 164,856 shares during the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of Kyndryl by 17.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock valued at $25,561,000 after purchasing an additional 146,257 shares during the last quarter. Finally, Sound Shore Management Inc CT bought a new stake in shares of Kyndryl during the 3rd quarter valued at approximately $61,113,000. 71.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on KD. Morgan Stanley decreased their price target on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. BMO Capital Markets started coverage on shares of Kyndryl in a research report on Monday, April 20th. They set a “market perform” rating and a $15.00 target price on the stock. Susquehanna downgraded shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $13.00 in a research report on Thursday, May 21st. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Guggenheim downgraded shares of Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $22.14.

Kyndryl Stock Up 0.0%

NYSE:KD opened at $11.57 on Wednesday. The firm’s 50 day simple moving average is $12.74 and its 200 day simple moving average is $17.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.88 and a quick ratio of 0.88. Kyndryl Holdings, Inc. has a one year low of $10.10 and a one year high of $44.20. The company has a market cap of $2.54 billion, a PE ratio of 13.61 and a beta of 1.66.

Kyndryl (NYSE:KD) last posted 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). Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts anticipate that Kyndryl Holdings, Inc. will post 1.59 earnings per share for the current year.

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.