Maverick Capital Ltd. Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

Maverick Capital Ltd. purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 63,048 shares of the company’s stock, valued at approximately $1,659,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after purchasing an additional 81,826 shares during the last quarter. Greenlight Capital Inc. lifted its holdings in 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 purchasing an additional 767,943 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after purchasing an additional 675,800 shares during the last quarter. Zimmer Partners LP lifted its holdings in Kyndryl by 1.3% in the 1st quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock worth $55,333,000 after purchasing an additional 32,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Kyndryl by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock worth $55,321,000 after purchasing an additional 158,160 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kyndryl Stock Performance

Shares of NYSE KD opened at $23.01 on Friday. 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 business’s 50 day moving average is $23.79 and its two-hundred day moving average is $24.00. The company has a market cap of $5.32 billion, a P/E ratio of -15.44, a P/E/G ratio of 5.32 and a beta of 1.64. Kyndryl Holdings, Inc. has a 12 month low of $13.87 and a 12 month high of $28.60.

Kyndryl (NYSE:KD) last issued 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 company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. On average, equities analysts expect that Kyndryl Holdings, Inc. will post 0.89 EPS for the current 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.