Hsbc Holdings PLC Has $6.56 Million Stake in Kyndryl Holdings, Inc. $KD

Hsbc Holdings PLC grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 421.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 248,130 shares of the company’s stock after acquiring an additional 200,522 shares during the quarter. Hsbc Holdings PLC’s holdings in Kyndryl were worth $6,558,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Kyndryl by 50.2% in the 1st quarter. Royal Bank of Canada now owns 148,178 shares of the company’s stock valued at $4,653,000 after acquiring an additional 49,504 shares during the last quarter. Integrated Wealth Concepts LLC boosted 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 acquiring an additional 1,093 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kyndryl by 1.5% during the first 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 purchasing an additional 11,177 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Kyndryl by 116.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,616 shares of the company’s stock valued at $110,000 after purchasing an additional 1,410 shares during the period. Finally, First Trust Advisors LP increased its stake in Kyndryl by 29.8% in the second quarter. First Trust Advisors LP now owns 408,123 shares of the company’s stock valued at $17,125,000 after purchasing an additional 93,726 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KD. Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a report on Monday, June 15th. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets began coverage on shares of Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price objective for the company. Susquehanna lowered Kyndryl from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $13.00 in a report on Thursday, May 21st. Finally, Scotiabank decreased their target price on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $22.14.

Kyndryl Stock Performance

Shares of KD stock opened at $11.32 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.88 and a current ratio of 0.88. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $44.20. The company’s 50 day moving average price is $12.29 and its two-hundred day moving average price is $16.64. The company has a market capitalization of $2.50 billion, a P/E ratio of 13.32 and a beta of 1.66.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter last year, the company earned $0.52 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts expect that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal 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.