M&T Bank Corp lessened its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,170 shares of the company’s stock after selling 1,486 shares during the quarter. M&T Bank Corp’s holdings in Kyndryl were worth $382,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of Kyndryl in the fourth quarter worth about $515,000. Raymond James Financial Inc. bought a new position in shares of Kyndryl in the fourth quarter worth about $11,359,000. AlphaQuest LLC increased its stake in shares of Kyndryl by 147.3% in the fourth quarter. AlphaQuest LLC now owns 1,877 shares of the company’s stock worth $65,000 after purchasing an additional 1,118 shares during the period. HighTower Advisors LLC increased its stake in shares of Kyndryl by 4.8% in the fourth quarter. HighTower Advisors LLC now owns 31,109 shares of the company’s stock worth $1,076,000 after purchasing an additional 1,432 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake 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 worth $39,000 after purchasing an additional 297 shares during the period. Institutional investors own 71.53% of the company’s stock.
Analyst Ratings Changes
KD has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Kyndryl from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded Kyndryl from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Finally, Susquehanna decreased their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd.
Insider Transactions at Kyndryl
In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $39.14, for a total value of $1,035,292.14. Following the transaction, the senior vice president directly owned 73,278 shares in the company, valued at $2,868,100.92. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.
Kyndryl Stock Performance
NYSE:KD opened at $38.88 on Thursday. Kyndryl Holdings, Inc. has a 12-month low of $21.34 and a 12-month high of $44.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $9.00 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 0.88 and a beta of 1.93. The firm has a 50-day moving average price of $40.29 and a 200 day moving average price of $37.09.
Kyndryl (NYSE:KD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal 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.
Further Reading
- Five stocks we like better than Kyndryl
- Low PE Growth Stocks: Unlocking Investment Opportunities
- 3 Stocks to Cushion Your Portfolio This Earnings Season
- What is the NASDAQ Stock Exchange?
- This Fund Manager Says You Should Get Out of Tesla and Apple—Now
- With Risk Tolerance, One Size Does Not Fit All
- JNJ’s Stock Price Is Back in Rally Mode—The Time to Buy Is Now
Want to see what other hedge funds are holding KD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kyndryl Holdings, Inc. (NYSE:KD – Free Report).
Receive News & Ratings for Kyndryl Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyndryl and related companies with MarketBeat.com's FREE daily email newsletter.