Victory Capital Management Inc. Raises Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Victory Capital Management Inc. lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 47,132 shares of the company’s stock after purchasing an additional 804 shares during the quarter. Victory Capital Management Inc.’s holdings in Kyndryl were worth $1,240,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KD. Teacher Retirement System of Texas grew its holdings in shares of Kyndryl by 37.4% during the 4th quarter. Teacher Retirement System of Texas now owns 27,913 shares of the company’s stock worth $580,000 after purchasing an additional 7,592 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Kyndryl by 30.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 20,864 shares of the company’s stock worth $434,000 after acquiring an additional 4,822 shares in the last quarter. Norges Bank acquired a new position in Kyndryl during the 4th quarter worth approximately $54,283,000. Corient Private Wealth LLC lifted its position in Kyndryl by 19.1% during the 4th quarter. Corient Private Wealth LLC now owns 40,150 shares of the company’s stock worth $834,000 after acquiring an additional 6,431 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in Kyndryl during the 4th quarter worth approximately $2,758,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Oppenheimer assumed coverage on Kyndryl in a research report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.40.

Kyndryl Stock Performance

Kyndryl stock opened at $23.76 on Friday. The stock’s 50 day moving average price is $24.24 and its 200 day moving average price is $23.95. Kyndryl Holdings, Inc. has a one year low of $13.87 and a one year high of $28.60. The firm has a market capitalization of $5.48 billion, a PE ratio of -15.94, a price-to-earnings-growth ratio of 4.77 and a beta of 1.64. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. As a group, sell-side analysts expect that Kyndryl Holdings, Inc. will post 0.95 EPS for the current fiscal year.

About Kyndryl

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.