The Vanguard Group, Inc. has recently announced that it has increased stake in Kyndryl Holdings Inc. (NYSE:KD) by 3.31%. After grabbing 22.18 million shares, the institutional investor is now in possession of 0.71 million shares of the Technology Company. The new investment brought the stake of investor firm to 9.75% having worth around $347.94 million. Moreover, Jupiter Asset Management Ltd. increased its share by 4.69 million to have a control over 18.45 million shares. And BlackRock Fund Advisors raised its holdings to 2.87 million shares by acquiring 16.75 million shares or 7.36% of the stake.
Kyndryl Holdings Inc. (KD) concluded trading on 03/15/23 at a closing price of $13.62, with 2.74 million shares of worth about $37.33 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 25.65% during that period and on Wednesday the price saw a loss of about -5.55%. Currently the company’s common shares owned by public are about 227.00M shares, out of which, 202.91M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the KD stock and their offered price forecasts bring an average price target of $15.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $17.00 and could fall to a lowest price of $13.00. The stock’s current price level is 9.2% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.77% for the stock. However, touching the estimated high of $17.00 would mean a gain of 19.88% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 1,332,020 shares in 24 of the transactions. In 34 selling transactions, insiders dumped 23,068,222 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Jupiter UK Special Situations Fun are the top 3 mutual funds which are holding stakes in Kyndryl Holdings Inc. iShares Core S&P Mid Cap ETF is currently holding 6.37 million shares of worth totaling $99.9 million. The company recently came buying 14424.0 shares which brought its stake up to 2.80% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 10403.0 shares, after which its hold over company’s outstanding shares expand to 2.75%, leaving 6.27 million shares with the mutual fund that have a worth of about $98.31 million. Jupiter UK Special Situations Fun, after buying 6.2 million shares, have now control over 2.73% of the stake in the company. It holds 0.5 million shares of worth $97.28 million.
Kyndryl Holdings Inc. (NYSE: KD) started trading at $14.01, below -$0.41 from concluding price of the previous day. However, the stock later moved at a day high price of 14.05, or with a loss of -5.55%. Stock saw a price change of -11.21% in past 5 days and over the past one month there was a price change of -17.45%. Year-to-date (YTD), KD shares are showing a performance of 22.48% which increased to 20.74% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.93 but also hit the highest price of $17.21 during that period. The average intraday trading volume for Kyndryl Holdings Inc. shares is 1.68 million. The stock is currently trading -13.18% below its 20-day simple moving average (SMA20), while that difference is down -3.91% for SMA50 and it goes to 21.08% higher than SMA200.
The Vanguard Group, Inc. acquired 22.18 million shares of Kyndryl Holdings Inc. having value of about $347.94 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.71 million shares in the company valued at close to $9668987.82, or have control over 3.31% stake in the company. Kyndryl Holdings Inc. (NYSE: KD) currently have 227.00M outstanding shares and institutions hold larger chunk of about 65.80% of that. Holding of mutual funds in the company is about 30.94% while other institutional holders and individual stake holders have control over 37.85% and 20.98% of the stake respectively.
The stock has a current market capitalization of $3.22B. It has posted earnings per share of -$3.84 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 1.75. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KD, volatility over the week remained 4.62% while standing at 3.39% over the month.
Analysts are in expectations that Kyndryl Holdings Inc. (KD) stock would likely to be making an EPS of -$0.72 in the current quarter, while forecast for next quarter EPS is -$0.95 and it is -$1.57 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.08 which is -$0.29 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -15.20% while it is estimated to increase by 6.00% in next year.
Analysts at 3 brokerage firms have issued recommendations for the Kyndryl Holdings Inc. (KD)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 3 Wall Street analysts, 0 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Susquehanna on January 12, 2023 offering a Neutral rating for the stock and assigned a target price of $14 to it. Coverage by JP Morgan stated Kyndryl Holdings Inc. (KD) stock as a Neutral in their note to investors on August 02, 2022, suggesting a price target of $12 for the stock.
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