Kyndryl (NYSE:KD) Shares Gap Up to $25.28

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $25.28, but opened at $26.00. Kyndryl shares last traded at $26.08, with a volume of 167,163 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on KD. Oppenheimer initiated coverage on Kyndryl in a research report on Thursday. They set an “outperform” rating and a $33.00 target price on the stock. Susquehanna upped their target price on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, May 9th. Finally, Scotiabank upped their price objective on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $29.40.

Kyndryl Price Performance

The business has a 50 day moving average of $24.97 and a two-hundred day moving average of $22.38. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the company posted ($0.21) EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, equities analysts forecast that Kyndryl Holdings, Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity at Kyndryl

In related news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at approximately $2,075,111.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Zimmer Partners LP increased its holdings in shares of Kyndryl by 1.3% in the first quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after purchasing an additional 32,000 shares during the period. Castleark Management LLC increased its holdings in shares of Kyndryl by 21.7% in the first quarter. Castleark Management LLC now owns 312,130 shares of the company’s stock valued at $6,792,000 after purchasing an additional 55,750 shares during the period. Tidal Investments LLC increased its holdings in shares of Kyndryl by 240.7% in the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after purchasing an additional 39,408 shares during the period. Virtus Investment Advisers Inc. acquired a new position in shares of Kyndryl in the first quarter valued at about $385,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Kyndryl by 3.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,053,758 shares of the company’s stock worth $44,690,000 after buying an additional 73,580 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

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.