LPL Financial LLC Boosts Position in Kyndryl Holdings, Inc. (NYSE:KD)

LPL Financial LLC increased its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,772 shares of the company’s stock after buying an additional 8,498 shares during the period. LPL Financial LLC’s holdings in Kyndryl were worth $940,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KD. Raymond James Financial Services Advisors Inc. increased its stake in Kyndryl by 6.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 148,331 shares of the company’s stock worth $1,946,000 after buying an additional 8,824 shares during the period. Bank of New York Mellon Corp increased its position in Kyndryl by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,604,898 shares of the company’s stock valued at $21,054,000 after purchasing an additional 6,965 shares during the period. Natixis Advisors L.P. purchased a new position in Kyndryl during the 1st quarter valued at about $203,000. MetLife Investment Management LLC increased its position in Kyndryl by 34.6% during the 1st quarter. MetLife Investment Management LLC now owns 116,861 shares of the company’s stock valued at $1,533,000 after purchasing an additional 30,050 shares during the period. Finally, Rhumbline Advisers increased its position in Kyndryl by 1.8% during the 1st quarter. Rhumbline Advisers now owns 524,670 shares of the company’s stock valued at $6,884,000 after purchasing an additional 9,314 shares during the period. 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 commented on KD shares. JPMorgan Chase & Co. raised their target price on shares of Kyndryl from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, August 22nd. Susquehanna raised 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 0.5 %

NYSE:KD opened at $18.22 on Friday. Kyndryl Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $18.26. The stock has a market capitalization of $4.18 billion, a P/E ratio of -3.68 and a beta of 1.44. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day simple moving average is $15.62 and its 200-day simple moving average is $14.48.

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

Kyndryl Profile

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.