Ieq Capital LLC Has $3.46 Million Position in Kyndryl Holdings, Inc. $KD

Ieq Capital LLC grew its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,404 shares of the company’s stock after acquiring an additional 60,373 shares during the quarter. Ieq Capital LLC owned 0.14% of Kyndryl worth $3,465,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in Kyndryl by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 77,612 shares of the company’s stock valued at $2,331,000 after purchasing an additional 421 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Kyndryl by 17.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,064 shares of the company’s stock worth $92,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Kyndryl by 62.2% during the second quarter. Geneos Wealth Management Inc. now owns 1,487 shares of the company’s stock worth $62,000 after purchasing an additional 570 shares in the last quarter. Equitable Holdings Inc. boosted its position in shares of Kyndryl by 2.8% during the third quarter. Equitable Holdings Inc. now owns 25,560 shares of the company’s stock worth $768,000 after purchasing an additional 698 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Kyndryl by 1.2% in the 4th quarter. Handelsbanken Fonder AB now owns 58,600 shares of the company’s stock valued at $1,556,000 after buying an additional 700 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wall Street Zen downgraded Kyndryl from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 target price on shares of Kyndryl in a research note on Thursday, August 6th. Weiss Ratings downgraded Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Finally, Scotiabank cut their price objective on Kyndryl from $16.50 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Kyndryl currently has a consensus rating of “Reduce” and a consensus price target of $16.50.

Kyndryl Trading Up 1.5%

NYSE KD opened at $12.73 on Tuesday. Kyndryl Holdings, Inc. has a 52 week low of $10.10 and a 52 week high of $33.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $12.73. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 34.42 and a beta of 1.64.

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

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.