Kyndryl (NYSE:KD) Stock Falls 5% – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD)’s share price fell 5% during trading on Friday. The company traded as low as $11.49 and last traded at $11.5150. 1,000,026 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,508,293 shares. The stock had previously closed at $12.12.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. JPMorgan Chase & Co. boosted their price target on shares of Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 10th. Weiss Ratings lowered shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $16.00 price objective on shares of Kyndryl in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $16.50.

Kyndryl Trading Down 4.7%

The firm has a 50-day moving average of $12.91 and a 200 day moving average of $12.54. The company has a market cap of $2.52 billion, a P/E ratio of 31.26 and a beta of 1.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kyndryl

Several institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. grew its holdings in Kyndryl by 6.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 14,179 shares of the company’s stock worth $160,000 after acquiring an additional 921 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Kyndryl by 1.9% during the first quarter. State of Michigan Retirement System now owns 55,034 shares of the company’s stock worth $722,000 after purchasing an additional 1,000 shares during the period. IFP Advisors Inc grew its stake in shares of Kyndryl by 44.8% in the second quarter. IFP Advisors Inc now owns 3,256 shares of the company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Kyndryl by 24.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,469 shares of the company’s stock valued at $72,000 after purchasing an additional 1,073 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Kyndryl by 104.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock valued at $27,000 after purchasing an additional 1,233 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

About Kyndryl

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.