Dimensional Fund Advisors LP Decreases Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Dimensional Fund Advisors LP lessened its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 13.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,381,071 shares of the company’s stock after selling 1,178,030 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Kyndryl were worth $194,191,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Kyndryl in the fourth quarter valued at $54,283,000. Hennessy Advisors Inc. bought a new position in Kyndryl during the fourth quarter valued at $28,992,000. Greenlight Capital Inc. grew its stake in shares of Kyndryl by 13.7% in the 4th quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock worth $132,079,000 after buying an additional 767,943 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Kyndryl in the 1st quarter worth $16,588,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Kyndryl in the 2nd quarter worth about $19,996,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 1.3 %

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

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

Wall Street Analysts Forecast Growth

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

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.