Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 85.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,502 shares of the company’s stock after selling 324,582 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Kyndryl were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KD. Ronald Blue Trust Inc. purchased a new position in shares of Kyndryl in the second quarter worth $26,000. Allworth Financial LP raised its holdings in shares of Kyndryl by 47.6% in the third quarter. Allworth Financial LP now owns 3,807 shares of the company’s stock worth $31,000 after buying an additional 1,228 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kyndryl in the first quarter worth $61,000. Lazard Asset Management LLC raised its holdings in shares of Kyndryl by 64.3% in the second quarter. Lazard Asset Management LLC now owns 6,667 shares of the company’s stock worth $64,000 after buying an additional 2,608 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Kyndryl by 4,413.5% in the third quarter. Newbridge Financial Services Group Inc. now owns 9,027 shares of the company’s stock worth $75,000 after acquiring an additional 8,827 shares during the period. Hedge funds and other institutional investors own 62.96% of the company’s stock.

Wall Street Analysts Forecast Growth

KD has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Kyndryl from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 7th. Susquehanna initiated coverage on shares of Kyndryl in a research note on Thursday, January 12th. They issued a “neutral” rating and a $14.00 price objective on the stock.

Kyndryl Stock Down 0.6 %

NYSE:KD opened at $15.59 on Thursday. The firm has a market capitalization of $3.55 billion, a P/E ratio of -4.06 and a beta of 1.72. Kyndryl Holdings, Inc. has a 1-year low of $7.93 and a 1-year high of $17.21. The company’s fifty day moving average price is $13.49 and its 200-day moving average price is $11.31. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.08 and a quick ratio of 1.08.

Kyndryl (NYSE:KD – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The company reported ($0.47) 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 analyst estimates of $3.92 billion. Kyndryl had a negative net margin of 5.03% and a negative return on equity of 25.39%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned ($3.30) earnings per share. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post -4.07 EPS for the current year.

Kyndryl Profile

(Get Rating)

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.