Braun Stacey Associates Inc. Makes New Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Braun Stacey Associates Inc. bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 227,535 shares of the company's stock, valued at approximately $7,145,000. Braun Stacey Associates Inc. owned approximately 0.10% of Kyndryl at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KD. Bank of New York Mellon Corp raised its stake in shares of Kyndryl by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,883,002 shares of the company's stock valued at $59,126,000 after purchasing an additional 31,644 shares during the period. Principal Financial Group Inc. raised its stake in shares of Kyndryl by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after purchasing an additional 2,807 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Kyndryl by 99.3% in the 1st quarter. Teacher Retirement System of Texas now owns 44,689 shares of the company's stock valued at $1,403,000 after purchasing an additional 22,268 shares during the period. Private Trust Co. NA raised its stake in shares of Kyndryl by 107.9% in the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after purchasing an additional 530 shares during the period. Finally, Jag Capital Management LLC increased its position in shares of Kyndryl by 3,273.7% in the first quarter. Jag Capital Management LLC now owns 285,450 shares of the company's stock valued at $8,963,000 after acquiring an additional 276,989 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the transaction, the senior vice president owned 73,278 shares in the company, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Kyndryl Trading Down 1.8%

NYSE KD traded down $0.77 on Monday, reaching $42.64. The company had a trading volume of 2,062,925 shares, compared to its average volume of 2,012,787. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 0.98 and a beta of 1.93. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $43.74. The business has a 50 day moving average of $39.19 and a two-hundred day moving average of $36.83. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business posted ($0.01) EPS. The business's revenue was down 1.3% compared to the same quarter last year. Analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna reduced their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised Kyndryl from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Finally, Oppenheimer upped their target price on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th.

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.