Nordea Investment Management AB Boosts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Posted by on May 11th, 2023

Nordea Investment Management AB boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 505,314 shares of the company’s stock after buying an additional 3,872 shares during the quarter. Nordea Investment Management AB owned approximately 0.22% of Kyndryl worth $5,579,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in shares of Kyndryl by 55.9% during the 4th quarter. Parallel Advisors LLC now owns 2,500 shares of the company’s stock worth $28,000 after purchasing an additional 896 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of Kyndryl by 4.1% during the 4th quarter. Greenwich Wealth Management LLC now owns 22,821 shares of the company’s stock worth $254,000 after purchasing an additional 900 shares during the period. Cladis Investment Advisory LLC lifted its stake in shares of Kyndryl by 0.9% during the 3rd quarter. Cladis Investment Advisory LLC now owns 114,480 shares of the company’s stock worth $947,000 after purchasing an additional 1,000 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Kyndryl by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 79,170 shares of the company’s stock worth $880,000 after purchasing an additional 1,107 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Kyndryl by 10.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 13,944 shares of the company’s stock worth $113,000 after purchasing an additional 1,264 shares during the period. Hedge funds and other institutional investors own 62.96% of the company’s stock.

Wall Street Analyst Weigh In

KD has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on Kyndryl in a research note on Thursday, April 20th. They set a “sector outperform” rating and a $22.00 price target on the stock. Susquehanna began coverage on Kyndryl in a report on Thursday, January 12th. They set a “neutral” rating and a $14.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Kyndryl from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th.

Kyndryl Trading Up 1.4 %

KD stock opened at $14.25 on Thursday. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -3.71 and a beta of 1.54. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.60. The business has a fifty day simple moving average of $14.44 and a 200-day simple moving average of $12.93. Kyndryl Holdings, Inc. has a 52 week low of $7.93 and a 52 week high of $17.21.

Kyndryl (NYSE:KD – Get Rating) last announced 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. Kyndryl had a negative return on equity of 25.39% and a negative net margin of 5.03%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned ($3.30) EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts expect that Kyndryl Holdings, Inc. will post -4.07 EPS for the current 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.

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Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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