Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 25.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 864,079 shares of the company’s stock after selling 297,467 shares during the quarter. Bank of America Corp DE owned 0.37% of Kyndryl worth $29,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $30,000. Millstone Evans Group LLC purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $35,000. Picton Mahoney Asset Management purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $38,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after purchasing an additional 297 shares in the last quarter. Finally, Sandy Spring Bank boosted its position in Kyndryl by 41.2% during the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock worth $52,000 after acquiring an additional 442 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

NYSE:KD opened at $40.44 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The company has a market cap of $9.41 billion, a P/E ratio of 73.52, a P/E/G ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $43.61. The firm’s 50 day moving average is $32.93 and its two-hundred day moving average is $34.53.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Susquehanna cut their price target on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd.

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.