Braun Stacey Associates Inc. Cuts Stock Holdings in Kyndryl Holdings, Inc. $KD

Braun Stacey Associates Inc. lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 56.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 225,644 shares of the company’s stock after selling 291,615 shares during the quarter. Braun Stacey Associates Inc. owned approximately 0.10% of Kyndryl worth $6,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new position in Kyndryl in the first quarter worth approximately $28,000. ST Germain D J Co. Inc. increased its holdings in shares of Kyndryl by 135.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 668 shares of the company’s stock valued at $28,000 after acquiring an additional 384 shares during the period. Compass Financial Services Inc purchased a new position in shares of Kyndryl in the 1st quarter valued at $30,000. Assetmark Inc. raised its position in shares of Kyndryl by 75.3% in the 2nd quarter. Assetmark Inc. now owns 775 shares of the company’s stock worth $33,000 after acquiring an additional 333 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Kyndryl by 103.0% during the 3rd quarter. True Wealth Design LLC now owns 1,547 shares of the company’s stock worth $46,000 after purchasing an additional 785 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

NYSE KD opened at $26.53 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $26.47 and its 200 day moving average price is $31.49. Kyndryl Holdings, Inc. has a 1 year low of $23.28 and a 1 year high of $44.20. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 15.70 and a beta of 1.85.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Insider Activity at Kyndryl

In related news, SVP Vineet Khurana sold 6,641 shares of Kyndryl stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the sale, the senior vice president owned 59,708 shares of the company’s stock, valued at $1,593,606.52. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Morgan Stanley initiated coverage on shares of Kyndryl in a report on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price target on the stock. Susquehanna set a $35.00 price objective on Kyndryl in a report on Thursday, November 6th. Finally, Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Kyndryl Company Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.