Covestor Ltd Increases Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Covestor Ltd grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,791 shares of the company’s stock after buying an additional 1,180 shares during the quarter. Kyndryl makes up about 0.3% of Covestor Ltd’s investment portfolio, making the stock its 21st largest holding. Covestor Ltd’s holdings in Kyndryl were worth $448,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in KD. Goldman Sachs Group Inc. increased its position in shares of Kyndryl by 3,628.6% during the second quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock valued at $170,048,000 after buying an additional 16,920,997 shares during the period. Norges Bank purchased a new position in shares of Kyndryl in the 4th quarter valued at approximately $26,154,000. BlackRock Inc. boosted its position in shares of Kyndryl by 12.6% during the third quarter. BlackRock Inc. now owns 18,909,290 shares of the company’s stock valued at $156,379,000 after purchasing an additional 2,123,293 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Kyndryl by 58.8% in the third quarter. Neuberger Berman Group LLC now owns 4,910,549 shares of the company’s stock worth $40,658,000 after purchasing an additional 1,818,983 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Kyndryl in the first quarter worth $24,648,000. 64.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Kyndryl from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. 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 note on Tuesday, August 22nd.

Kyndryl Stock Down 1.0 %

NYSE:KD traded down $0.18 on Tuesday, reaching $18.09. 589,998 shares of the stock traded hands, compared to its average volume of 1,671,396. The company’s fifty day simple moving average is $15.64 and its 200 day simple moving average is $14.51. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of -3.69 and a beta of 1.44. Kyndryl Holdings, Inc. has a 12 month low of $10.02 and a 12 month high of $18.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.81.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.18 billion. Kyndryl had a negative net margin of 6.69% and a negative return on equity of 11.38%. During the same period in the previous year, the business earned ($0.45) EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts predict that Kyndryl Holdings, Inc. will post -0.24 EPS for the current fiscal year.

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.