Truist Financial Corp Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Truist Financial Corp trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 5.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,306 shares of the company’s stock after selling 1,681 shares during the quarter. Truist Financial Corp’s holdings in Kyndryl were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in Kyndryl by 3.7% in the 4th quarter. Captrust Financial Advisors now owns 17,659 shares of the company’s stock valued at $196,000 after purchasing an additional 630 shares in the last quarter. AdvisorNet Financial Inc raised its position in Kyndryl by 15.7% in the 1st quarter. AdvisorNet Financial Inc now owns 5,366 shares of the company’s stock valued at $79,000 after purchasing an additional 727 shares in the last quarter. LPL Financial LLC raised its position in Kyndryl by 1.3% in the 1st quarter. LPL Financial LLC now owns 62,274 shares of the company’s stock valued at $919,000 after purchasing an additional 804 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Kyndryl by 6.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 13,221 shares of the company’s stock worth $195,000 after acquiring an additional 827 shares in the last quarter. Finally, Cowen Prime Advisors LLC raised its position in shares of Kyndryl by 2.7% during the 2nd quarter. Cowen Prime Advisors LLC now owns 37,480 shares of the company’s stock worth $498,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 64.89% of the company’s stock.

Analyst Upgrades and Downgrades

KD has been the topic of several research analyst reports. Susquehanna raised their target price on Kyndryl from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Kyndryl from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 22nd.

Kyndryl Trading Up 3.0 %

KD opened at $17.67 on Friday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -3.57 and a beta of 1.44. Kyndryl Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $17.95. The business’s 50 day moving average is $15.50 and its two-hundred day moving average is $14.35. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 2.81.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.18 billion. Kyndryl had a negative return on equity of 11.38% and a negative net margin of 6.69%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) earnings per share. On average, research analysts predict that Kyndryl Holdings, Inc. will post -0.31 EPS for the current year.

Kyndryl Company 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.