California Public Employees Retirement System Has $6.48 Million Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

California Public Employees Retirement System increased its position in shares of Kyndryl Holdings, Inc. (NYSE:KDFree Report) by 11.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 429,429 shares of the company’s stock after purchasing an additional 45,058 shares during the quarter. California Public Employees Retirement System’s holdings in Kyndryl were worth $6,484,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KD. Raymond James Financial Services Advisors Inc. lifted its stake in Kyndryl by 6.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,331 shares of the company’s stock valued at $1,946,000 after buying an additional 8,824 shares during the period. Bank of New York Mellon Corp lifted its stake in Kyndryl by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,604,898 shares of the company’s stock valued at $21,054,000 after buying an additional 6,965 shares during the period. Natixis Advisors L.P. acquired a new position in Kyndryl in the first quarter valued at about $203,000. MetLife Investment Management LLC lifted its stake in Kyndryl by 34.6% in the first quarter. MetLife Investment Management LLC now owns 116,861 shares of the company’s stock valued at $1,533,000 after buying an additional 30,050 shares during the period. Finally, Rhumbline Advisers lifted its stake in Kyndryl by 1.8% in the first quarter. Rhumbline Advisers now owns 524,670 shares of the company’s stock valued at $6,884,000 after buying an additional 9,314 shares during the period. Institutional investors and hedge funds own 64.89% of the company’s stock.

Kyndryl Stock Down 0.8 %

NYSE:KD opened at $20.98 on Wednesday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $4.81 billion, a PE ratio of -4.24 and a beta of 1.59. Kyndryl Holdings, Inc. has a 52-week low of $11.35 and a 52-week high of $22.02. The stock has a 50-day simple moving average of $19.79 and a 200 day simple moving average of $16.93.

Kyndryl (NYSE:KDGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.18 billion. Kyndryl had a negative return on equity of 11.38% and a negative net margin of 6.69%. Kyndryl’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. On average, sell-side analysts expect that Kyndryl Holdings, Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TheStreet raised Kyndryl from a “d” rating to a “c” rating in a research note on Tuesday, December 12th. Susquehanna raised their price target on Kyndryl from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Evercore ISI raised Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. raised Kyndryl from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $20.00 to $25.00 in a research report on Monday, December 18th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Get Our Latest Stock Analysis on KD

Kyndryl Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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