Kyndryl Holdings, Inc. $KD Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 2,985.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 60,131 shares of the company’s stock after acquiring an additional 58,182 shares during the period. Fifth Third Bancorp’s holdings in Kyndryl were worth $789,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Kyndryl by 50.2% in the first quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock valued at $4,653,000 after purchasing an additional 49,504 shares during the period. Integrated Wealth Concepts LLC increased its stake in Kyndryl by 15.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,025 shares of the company’s stock worth $252,000 after buying an additional 1,093 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Kyndryl by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock valued at $23,018,000 after buying an additional 11,177 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Kyndryl by 116.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock valued at $110,000 after buying an additional 1,410 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Kyndryl by 29.8% during the second quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock worth $17,125,000 after acquiring an additional 93,726 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of analyst reports. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank cut their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Finally, Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and cut their price target for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $16.67.

Kyndryl Price Performance

Shares of NYSE KD opened at $12.79 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.05 and a beta of 1.67. Kyndryl Holdings, Inc. has a twelve month low of $10.10 and a twelve month high of $39.98. The business has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $14.39.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share (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 firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts expect that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current year.

Kyndryl 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.