Allianz Asset Management GmbH Sells 22,071 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Allianz Asset Management GmbH reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 697,331 shares of the company's stock after selling 22,071 shares during the quarter. Allianz Asset Management GmbH owned about 0.30% of Kyndryl worth $21,896,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in shares of Kyndryl by 9.4% in the fourth quarter. Bessemer Group Inc. now owns 2,881 shares of the company's stock valued at $99,000 after purchasing an additional 247 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Kyndryl by 19.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company's stock valued at $78,000 after purchasing an additional 370 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Kyndryl by 5.3% in the first quarter. Greenleaf Trust now owns 9,008 shares of the company's stock valued at $283,000 after purchasing an additional 450 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Kyndryl by 1.9% in the first quarter. Xponance Inc. now owns 27,124 shares of the company's stock valued at $852,000 after purchasing an additional 512 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after purchasing an additional 524 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Susquehanna cut their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer upped their price objective on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen downgraded Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the transaction, the senior vice president directly owned 73,278 shares in the company, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Kyndryl Stock Performance

NYSE:KD traded down $0.10 during trading on Monday, reaching $39.02. The company's stock had a trading volume of 359,675 shares, compared to its average volume of 2,159,112. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 0.85 and a beta of 1.93. The firm has a 50 day moving average of $40.23 and a 200-day moving average of $37.22. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $44.20.

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