OP Asset Management Ltd Invests $5.36 Million in Kyndryl Holdings, Inc. $KD

OP Asset Management Ltd bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 408,819 shares of the company’s stock, valued at approximately $5,364,000. OP Asset Management Ltd owned about 0.18% of Kyndryl as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Kyndryl by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock worth $752,479,000 after buying an additional 144,625 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Kyndryl by 53.9% in the 4th quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock worth $170,934,000 after acquiring an additional 2,255,860 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kyndryl by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock worth $124,420,000 after purchasing an additional 76,614 shares during the period. Geode Capital Management LLC boosted its stake in shares of Kyndryl by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock worth $118,997,000 after purchasing an additional 63,846 shares during the period. Finally, Sound Shore Management Inc. CT grew its holdings in Kyndryl by 46.1% during the 4th quarter. Sound Shore Management Inc. CT now owns 2,974,223 shares of the company’s stock valued at $78,995,000 after purchasing an additional 939,154 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

KD opened at $11.32 on Friday. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $44.20. 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 business’s fifty day simple moving average is $12.29 and its 200-day simple moving average is $16.64. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 13.32 and a beta of 1.66.

Kyndryl (NYSE:KD) last released its quarterly earnings data 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Kyndryl from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Susquehanna lowered shares of Kyndryl from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. Morgan Stanley lowered their price objective on shares of Kyndryl from $28.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Scotiabank reduced their target price on shares of Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, May 8th. Finally, BMO Capital Markets began coverage on shares of Kyndryl in a research note on Monday, April 20th. They set a “market perform” rating and a $15.00 price target for the company. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $22.14.

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.