Entropy Technologies LP Takes Position in Kyndryl Holdings, Inc. $KD

Entropy Technologies LP purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the first quarter, HoldingsChannel reports. The firm purchased 62,178 shares of the company’s stock, valued at approximately $816,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Kyndryl by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,331,302 shares of the company’s stock valued at $752,479,000 after buying an additional 144,625 shares during the period. AQR Capital Management LLC increased its position in shares of Kyndryl by 53.9% during the fourth quarter. AQR Capital Management LLC now owns 6,443,037 shares of the company’s stock valued at $170,934,000 after acquiring an additional 2,255,860 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kyndryl by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,684,443 shares of the company’s stock valued at $124,420,000 after acquiring an additional 76,614 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kyndryl by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,456,962 shares of the company’s stock valued at $118,997,000 after acquiring an additional 63,846 shares during the period. Finally, Sound Shore Management Inc. CT lifted its holdings in shares of Kyndryl by 39.5% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,147,984 shares of the company’s stock worth $54,422,000 after acquiring an additional 1,173,761 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Up 4.6%

Shares of NYSE KD opened at $13.34 on Wednesday. The stock has a market cap of $2.94 billion, a P/E ratio of 15.70 and a beta of 1.67. The business’s fifty day simple moving average is $11.86 and its 200-day simple moving average is $14.29. Kyndryl Holdings, Inc. has a 12-month low of $10.10 and a 12-month high of $39.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.77.

Kyndryl (NYSE:KD) last issued 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). The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Kyndryl had a return on equity of 20.43% and a net margin of 1.31%.Kyndryl’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. As a group, equities analysts predict that Kyndryl Holdings, Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KD has been the subject of several research reports. Wall Street Zen downgraded shares of Kyndryl from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna downgraded Kyndryl from a “positive” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $13.00 in a report on Thursday, May 21st. BMO Capital Markets initiated coverage on Kyndryl in a research note on Monday, April 20th. They set a “market perform” rating and a $15.00 target price on the stock. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Kyndryl in a research note on Monday, June 15th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $16.67.

Kyndryl Company 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.