Westpac Banking Corp lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 56.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,326 shares of the company's stock after selling 6,807 shares during the period. Westpac Banking Corp's holdings in Kyndryl were worth $59,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of Kyndryl by 3,628.6% in the second quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company's stock valued at $170,048,000 after purchasing an additional 16,920,997 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Kyndryl by 82.5% in the third quarter. Jupiter Asset Management Ltd. now owns 13,760,000 shares of the company's stock valued at $113,795,000 after purchasing an additional 6,219,864 shares during the period. Marshall Wace LLP acquired a new stake in shares of Kyndryl in the third quarter valued at approximately $18,421,000. Royce & Associates LP acquired a new stake in shares of Kyndryl in the third quarter valued at approximately $17,583,000. Finally, BlackRock Inc. increased its stake in shares of Kyndryl by 12.6% in 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 during the period. Institutional investors own 62.96% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on KD. JPMorgan Chase & Co. raised their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, February 7th. Susquehanna began coverage on shares of Kyndryl in a research note on Thursday, January 12th. They set a "neutral" rating and a $14.00 price objective on the stock. Finally, Scotiabank began coverage on shares of Kyndryl in a research note on Thursday, April 20th. They set a "sector outperform" rating and a $22.00 price objective on the stock.

Kyndryl Price Performance

NYSE KD opened at $14.25 on Thursday. The firm has a market capitalization of $3.24 billion, a PE ratio of -3.71 and a beta of 1.56. Kyndryl Holdings, Inc. has a 12 month low of $7.93 and a 12 month high of $17.21. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.08 and a quick ratio of 1.08. The company's 50 day simple moving average is $14.58 and its 200 day simple moving average is $12.74.

Kyndryl (NYSE:KD – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.10. The company had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $3.92 billion. Kyndryl had a negative return on equity of 25.39% and a negative net margin of 5.03%. The firm's revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.30) earnings per share. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post -4.07 EPS for the current fiscal year.

Kyndryl Profile

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Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

Further Reading

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