Kyndryl Holdings, Inc. (NYSE:KD) Stake Increased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 287,390 shares of the company’s stock after purchasing an additional 1,593 shares during the period. Retirement Systems of Alabama’s holdings in Kyndryl were worth $5,972,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KD. Raleigh Capital Management Inc. increased its stake in shares of Kyndryl by 100.3% in the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock worth $46,000 after acquiring an additional 1,517 shares during the last quarter. Huntington National Bank increased its stake in shares of Kyndryl by 32.9% in the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock worth $56,000 after acquiring an additional 919 shares during the last quarter. Systematic Alpha Investments LLC acquired a new position in shares of Kyndryl in the third quarter worth $73,000. RIA Advisory Group LLC acquired a new position in shares of Kyndryl in the fourth quarter worth $138,000. Finally, Cerity Partners LLC acquired a new position in shares of Kyndryl in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on KD shares. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Monday, January 8th. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and increased their target price for the stock from $19.00 to $27.00 in a research report on Monday, February 12th.

Kyndryl Stock Up 3.3 %

Shares of NYSE:KD opened at $20.54 on Friday. The stock’s 50-day moving average is $21.23 and its 200-day moving average is $19.79. Kyndryl Holdings, Inc. has a 52-week low of $11.35 and a 52-week high of $22.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a negative net margin of 6.27% and a negative return on equity of 7.39%. On average, sell-side analysts forecast that Kyndryl Holdings, Inc. will post -0.57 earnings per share 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.