Renaissance Technologies LLC Increases Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Renaissance Technologies LLC boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 32.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765,800 shares of the company’s stock after acquiring an additional 675,800 shares during the period. Renaissance Technologies LLC owned 1.20% of Kyndryl worth $72,768,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Simplicity Wealth LLC raised its holdings in Kyndryl by 3.0% in the second quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock valued at $414,000 after acquiring an additional 454 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock worth $39,000 after purchasing an additional 554 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Kyndryl by 1.0% during the second quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock worth $1,513,000 after purchasing an additional 563 shares during the period. Alpha Omega Wealth Management LLC raised its holdings in shares of Kyndryl by 0.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock worth $2,074,000 after purchasing an additional 730 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Kyndryl by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock worth $3,095,000 after purchasing an additional 790 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kyndryl Stock Up 0.9 %

Shares of NYSE:KD opened at $23.13 on Tuesday. The company’s fifty day moving average is $24.39 and its two-hundred day moving average is $23.95. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -15.52, 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 Holdings, Inc. has a 1-year low of $13.87 and a 1-year high of $28.60.

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