Brokerages Set Kyndryl Holdings, Inc. (NYSE:KD) PT at $38.00

Kyndryl Holdings, Inc. (NYSE:KD) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.60.

A number of analysts have recently issued reports on KD shares. Susquehanna set a $35.00 price objective on shares of Kyndryl in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Guggenheim cut their price objective on shares of Kyndryl from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday. Scotiabank assumed coverage on Kyndryl in a research note on Tuesday, January 27th. They set an “outperform” rating for the company. Finally, Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th.

Kyndryl Price Performance

Shares of NYSE KD opened at $22.07 on Tuesday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. Kyndryl has a 1-year low of $20.62 and a 1-year high of $44.20. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 13.06 and a beta of 1.84. The business has a 50-day moving average of $25.87 and a 200-day moving average of $28.73.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, equities analysts anticipate that Kyndryl will post 0.73 EPS for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the transaction, the senior vice president directly owned 59,708 shares of the company’s stock, valued at $1,593,606.52. This represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kyndryl

Institutional investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Kyndryl by 55.6% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 12,600 shares of the company’s stock worth $335,000 after purchasing an additional 4,500 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Kyndryl by 1.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 173,465 shares of the company’s stock worth $4,607,000 after purchasing an additional 2,750 shares during the period. Gabelli Funds LLC lifted its position in shares of Kyndryl by 29.4% in the 4th quarter. Gabelli Funds LLC now owns 64,437 shares of the company’s stock worth $1,711,000 after buying an additional 14,653 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of Kyndryl in the 4th quarter worth about $218,000. Finally, Convergence Investment Partners LLC boosted its holdings in shares of Kyndryl by 42.6% in the 4th quarter. Convergence Investment Partners LLC now owns 112,531 shares of the company’s stock valued at $2,989,000 after buying an additional 33,599 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Company Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.