Barclays PLC Raises Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Barclays PLC increased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,872 shares of the company’s stock after purchasing an additional 17,826 shares during the period. Barclays PLC owned approximately 0.07% of Kyndryl worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KD. Oppenheimer Asset Management Inc. purchased a new position in Kyndryl in the second quarter valued at $181,000. Bank of Montreal Can purchased a new position in Kyndryl in the second quarter valued at $494,000. State of New Jersey Common Pension Fund D increased its holdings in Kyndryl by 31.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 190,750 shares of the company’s stock valued at $2,533,000 after buying an additional 45,475 shares in the last quarter. Houlihan Financial Resource Group Ltd. purchased a new position in Kyndryl in the second quarter valued at $142,000. Finally, Handelsbanken Fonder AB purchased a new position in Kyndryl in the second quarter valued at $380,000. Hedge funds and other institutional investors own 64.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kyndryl from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, August 22nd. Susquehanna lifted their target price on shares of Kyndryl from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th.

Kyndryl Stock Up 0.9 %

Shares of NYSE KD opened at $17.90 on Thursday. The company’s 50-day simple moving average is $15.54 and its 200-day simple moving average is $14.40. Kyndryl Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $17.98. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -3.62 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.81.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.16. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.18 billion. Kyndryl had a negative net margin of 6.69% and a negative return on equity of 11.38%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) earnings per share. Equities analysts predict that Kyndryl Holdings, Inc. will post -0.24 EPS for the current fiscal year.

About Kyndryl

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