Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,782 shares of the company’s stock after selling 2,610 shares during the period. State of Alaska Department of Revenue’s holdings in Kyndryl were worth $514,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hennessy Advisors Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth approximately $28,992,000. Silverberg Bernstein Capital Management LLC purchased a new stake in shares of Kyndryl during the fourth quarter worth $739,000. Pacer Advisors Inc. raised its position in shares of Kyndryl by 79.9% in the fourth quarter. Pacer Advisors Inc. now owns 34,489 shares of the company’s stock valued at $717,000 after buying an additional 15,318 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Kyndryl by 6.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 96,775 shares of the company’s stock worth $2,011,000 after buying an additional 5,489 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Kyndryl during the fourth quarter worth about $289,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of KD stock opened at $20.46 on Friday. The firm’s 50-day moving average is $21.61 and its two-hundred day moving average is $19.26. Kyndryl Holdings, Inc. has a 12 month low of $11.35 and a 12 month high of $22.90. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $4.71 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 6.03 and a beta of 1.54.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Analysts predict that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on KD. Evercore ISI upgraded shares of Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Monday, January 8th. Susquehanna upgraded Kyndryl from a “neutral” rating to a “positive” rating and upped their price target for the company from $19.00 to $27.00 in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upgraded Kyndryl from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $25.00 in a research report on Monday, December 18th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyndryl presently has a consensus rating of “Buy” and a consensus price target of $25.00.

Kyndryl 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.