Louisiana State Employees Retirement System Purchases Shares of 64,400 Kyndryl Holdings, Inc. (NYSE:KD)

Louisiana State Employees Retirement System purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 64,400 shares of the company’s stock, valued at approximately $1,338,000.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Kyndryl by 6.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 148,331 shares of the company’s stock valued at $1,946,000 after acquiring an additional 8,824 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Kyndryl by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,604,898 shares of the company’s stock valued at $21,054,000 after acquiring an additional 6,965 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Kyndryl during the 1st quarter valued at $203,000. MetLife Investment Management LLC lifted its holdings in shares of Kyndryl by 34.6% during the 1st quarter. MetLife Investment Management LLC now owns 116,861 shares of the company’s stock valued at $1,533,000 after acquiring an additional 30,050 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Kyndryl by 1.8% during the 1st quarter. Rhumbline Advisers now owns 524,670 shares of the company’s stock valued at $6,884,000 after acquiring an additional 9,314 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on KD. Evercore ISI raised shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Monday, January 8th. Susquehanna raised shares of Kyndryl from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $19.00 to $27.00 in a research note on Monday, February 12th.

Kyndryl Stock Performance

Kyndryl stock opened at $19.66 on Monday. Kyndryl Holdings, Inc. has a 12-month low of $11.35 and a 12-month high of $22.90. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -4.34, a price-to-earnings-growth ratio of 5.54 and a beta of 1.54. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $21.49 and its 200 day moving average price is $19.45.

Kyndryl (NYSE:KD) last released its earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. On average, research analysts forecast that Kyndryl Holdings, Inc. will post -0.57 EPS for the current fiscal year.

Kyndryl 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.