Kyndryl Sees Unusually High Options Volume (NYSE:KD)

Kyndryl Holdings, Inc. (NYSE:KD) saw some unusual options trading on Monday. Investors purchased 11,111 put options on the company. This is an increase of 359% compared to the average volume of 2,420 put options.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KD shares. Morgan Stanley cut their target price on Kyndryl from $28.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Zacks Research lowered Kyndryl from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. BMO Capital Markets started coverage on Kyndryl in a research report on Monday. They issued a “market perform” rating and a $15.00 target price on the stock. Guggenheim lowered Kyndryl from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings lowered Kyndryl from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Kyndryl has an average rating of “Reduce” and a consensus target price of $23.83.

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Kyndryl by 6.1% in the third quarter. Vanguard Group Inc. now owns 28,186,677 shares of the company’s stock worth $846,446,000 after buying an additional 1,619,048 shares during the period. ING Groep NV acquired a new stake in Kyndryl in the third quarter worth $9,188,000. Arnhold LLC grew its stake in shares of Kyndryl by 19.5% in the third quarter. Arnhold LLC now owns 1,010,671 shares of the company’s stock worth $30,350,000 after purchasing an additional 164,856 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Kyndryl by 21.1% in the third quarter. Penserra Capital Management LLC now owns 315,439 shares of the company’s stock worth $9,472,000 after purchasing an additional 54,945 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in shares of Kyndryl by 17.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 962,390 shares of the company’s stock worth $25,561,000 after purchasing an additional 146,257 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

KD stock opened at $14.65 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.75. The firm has a market cap of $3.30 billion, a P/E ratio of 13.95 and a beta of 1.83. Kyndryl has a 12-month low of $10.10 and a 12-month high of $44.20. The stock’s 50 day simple moving average is $12.73 and its 200 day simple moving average is $21.49.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.89 billion. Kyndryl had a net margin of 1.65% and a return on equity of 25.91%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. As a group, equities research analysts predict that Kyndryl will post 1.29 EPS for the current year.

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.