Bleakley Financial Group LLC Buys New Position in Kyndryl Holdings, Inc. (NYSE:KD)

Bleakley Financial Group LLC acquired a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 13,686 shares of the company’s stock, valued at approximately $284,000.

Several other large investors also recently made changes to their positions in the business. New York State Teachers Retirement System boosted its position in shares of Kyndryl by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 208,389 shares of the company’s stock valued at $4,330,000 after purchasing an additional 1,900 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Kyndryl during the 4th quarter valued at about $1,664,000. Hennessy Advisors Inc. bought a new position in shares of Kyndryl during the 4th quarter valued at about $28,992,000. Silverberg Bernstein Capital Management LLC purchased a new stake in Kyndryl during the fourth quarter valued at about $739,000. Finally, Pacer Advisors Inc. lifted its stake in Kyndryl by 79.9% during the fourth quarter. Pacer Advisors Inc. now owns 34,489 shares of the company’s stock valued at $717,000 after buying an additional 15,318 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

NYSE KD opened at $20.07 on Tuesday. The company has a 50 day simple moving average of $21.60 and a 200-day simple moving average of $19.35. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -4.43, a price-to-earnings-growth ratio of 5.76 and a beta of 1.55. Kyndryl Holdings, Inc. has a 52-week low of $11.35 and a 52-week high of $22.90.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. Equities research analysts predict that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on KD. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Monday, January 8th. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and upped their price objective for the company from $19.00 to $27.00 in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Kyndryl from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $25.00 in a research note on Monday, December 18th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl presently has an average rating of “Buy” and a consensus price target of $25.00.

Kyndryl Company 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.