Mackenzie Financial Corp Sells 42,254 Shares of Kyndryl Holdings, Inc. $KD

Mackenzie Financial Corp lessened its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 18.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 193,046 shares of the company’s stock after selling 42,254 shares during the period. Mackenzie Financial Corp’s holdings in Kyndryl were worth $8,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its position in Kyndryl by 1.4% during the second quarter. Loomis Sayles & Co. L P now owns 385,751 shares of the company’s stock valued at $16,186,000 after acquiring an additional 5,318 shares during the last quarter. Norges Bank purchased a new position in shares of Kyndryl during the 2nd quarter worth about $19,907,000. Measured Wealth Private Client Group LLC bought a new position in Kyndryl during the 2nd quarter valued at about $330,000. Hsbc Holdings PLC raised its position in Kyndryl by 98.7% in the 2nd quarter. Hsbc Holdings PLC now owns 75,690 shares of the company’s stock worth $3,181,000 after purchasing an additional 37,596 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Kyndryl by 116.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock worth $110,000 after purchasing an additional 1,410 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KD shares. Guggenheim upgraded Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Susquehanna set a $35.00 price target on shares of Kyndryl in a report on Thursday, November 6th. Finally, Morgan Stanley started coverage on shares of Kyndryl in a report on Friday, September 26th. They set an “equal weight” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Kyndryl Price Performance

Shares of KD stock opened at $25.62 on Wednesday. Kyndryl Holdings, Inc. has a twelve month low of $23.28 and a twelve month high of $44.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.24. The stock has a fifty day simple moving average of $27.53 and a two-hundred day simple moving average of $33.37. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 15.16 and a beta of 1.85.

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

Kyndryl Profile

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.