Sound Shore Management Inc. CT Purchases 1,173,761 Shares of Kyndryl Holdings, Inc. $KD

Sound Shore Management Inc. CT increased its position in Kyndryl Holdings, Inc. (NYSE:KD) by 39.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,147,984 shares of the company’s stock after purchasing an additional 1,173,761 shares during the quarter. Sound Shore Management Inc. CT owned approximately 1.84% of Kyndryl worth $54,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KD. Los Angeles Capital Management LLC bought a new position in shares of Kyndryl in the 4th quarter valued at about $29,000. Quarry LP acquired a new stake in shares of Kyndryl during the 4th quarter worth approximately $31,000. NBT Bank N A NY raised its stake in shares of Kyndryl by 3,220.0% during the fourth quarter. NBT Bank N A NY now owns 1,328 shares of the company’s stock worth $35,000 after buying an additional 1,288 shares during the last quarter. NFSG Corp raised its stake in shares of Kyndryl by 177.2% during the first quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after buying an additional 1,809 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Kyndryl by 4,475.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company’s stock valued at $39,000 after buying an additional 1,432 shares during the period. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Up 0.1%

Kyndryl stock opened at $12.16 on Monday. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.31 and a beta of 1.67. The company’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $14.99. 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 fifty-two week low of $10.10 and a fifty-two week high of $39.98.

Kyndryl (NYSE:KD) last issued 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). The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.74 billion. Kyndryl had a net margin of 1.31% and a return on equity of 20.43%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KD. Wall Street Zen cut shares of Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Susquehanna cut shares of Kyndryl from a “positive” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $13.00 in a research report on Thursday, May 21st. Morgan Stanley cut their price target on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Scotiabank cut their price target on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, May 8th. Finally, BMO Capital Markets started coverage on Kyndryl in a research report on Monday, April 20th. They issued a “market perform” rating and a $15.00 price target on the stock. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $16.67.

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.