State of New Jersey Common Pension Fund D Decreases Stake in Kyndryl Holdings, Inc. (NYSE:KD)

State of New Jersey Common Pension Fund D reduced its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 40.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,570 shares of the company’s stock after selling 61,143 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Kyndryl were worth $2,409,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Kyndryl during the first quarter valued at $26,000. ORG Partners LLC increased its position in Kyndryl by 622.4% during the first quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after acquiring an additional 1,220 shares during the last quarter. Fortis Group Advisors LLC increased its position in Kyndryl by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in Kyndryl during the first quarter valued at $33,000. Finally, Headlands Technologies LLC grew its holdings in Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after purchasing an additional 554 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer began coverage on Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl has a consensus rating of “Buy” and a consensus target price of $29.40.

Kyndryl Stock Performance

NYSE KD opened at $23.76 on Friday. The stock has a market capitalization of $5.48 billion, a PE ratio of -15.94, a P/E/G ratio of 4.77 and a beta of 1.64. The business has a 50 day simple moving average of $24.24 and a two-hundred day simple moving average of $23.95. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl Holdings, Inc. has a 1-year low of $13.87 and a 1-year high of $28.60.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.78 billion. On average, research analysts predict 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.