Lazard Asset Management LLC Raises Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Lazard Asset Management LLC increased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 221.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,430 shares of the company’s stock after purchasing an additional 14,763 shares during the period. Lazard Asset Management LLC’s holdings in Kyndryl were worth $177,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. bought a new position in Kyndryl in the 2nd quarter worth about $26,000. Allworth Financial LP lifted its stake in shares of Kyndryl by 47.6% in the 3rd quarter. Allworth Financial LP now owns 3,807 shares of the company’s stock valued at $31,000 after purchasing an additional 1,228 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Kyndryl in the 1st quarter valued at approximately $61,000. Newbridge Financial Services Group Inc. increased its position in Kyndryl by 4,413.5% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 9,027 shares of the company’s stock valued at $75,000 after buying an additional 8,827 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Kyndryl in the 3rd quarter worth $82,000. Hedge funds and other institutional investors own 62.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on KD. Susquehanna began coverage on Kyndryl in a report on Thursday, January 12th. They issued a “neutral” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Kyndryl from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th.

Kyndryl Price Performance

NYSE KD opened at $15.75 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $13.76 and its 200 day moving average price is $11.41. Kyndryl Holdings, Inc. has a 1 year low of $7.93 and a 1 year high of $17.21. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -4.10 and a beta of 1.66.

Kyndryl (NYSE:KD – Get Rating) last posted its earnings results on Tuesday, February 7th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.10. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kyndryl had a negative return on equity of 25.39% and a negative net margin of 5.03%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned ($3.30) EPS. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post -4.07 earnings per share for the current year.

Kyndryl Company Profile

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Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.