Allianz Asset Management GmbH Sells 666,073 Shares of Kyndryl Holdings, Inc. $KD

Allianz Asset Management GmbH lessened its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 79.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,809 shares of the company's stock after selling 666,073 shares during the quarter. Allianz Asset Management GmbH owned 0.08% of Kyndryl worth $1,909,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Trust Co. of Vermont bought a new position in shares of Kyndryl in the second quarter worth about $25,000. Versant Capital Management Inc increased its position in Kyndryl by 104.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,418 shares of the company's stock worth $27,000 after purchasing an additional 1,233 shares in the last quarter. Western Wealth Management LLC bought a new position in Kyndryl in the 1st quarter valued at approximately $29,000. Los Angeles Capital Management LLC acquired a new stake in Kyndryl in the fourth quarter valued at approximately $29,000. Finally, Quarry LP bought a new stake in shares of Kyndryl during the fourth quarter worth $31,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Stock Up 1.4%

Shares of KD opened at $12.97 on Thursday. The company has a market capitalization of $2.83 billion, a PE ratio of 35.06 and a beta of 1.64. Kyndryl Holdings, Inc. has a 12 month low of $10.10 and a 12 month high of $33.90. The stock's 50-day moving average price is $12.84 and its two-hundred day moving average price is $12.58. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.96.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.64 billion. Kyndryl had a return on equity of 12.24% and a net margin of 0.58%.The business's revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, August 10th. Weiss Ratings cut Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Zacks Research lowered Kyndryl from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Susquehanna downgraded Kyndryl from a "positive" rating to a "neutral" rating and lowered their price objective for the company from $16.00 to $13.00 in a research note on Thursday, May 21st. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $16.00 price objective on shares of Kyndryl in a report on Thursday, August 6th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $16.50.

Kyndryl 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.

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