Kyndryl Holdings, Inc. (NYSE:KD) Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 15.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,174,989 shares of the company's stock after selling 386,487 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.93% of Kyndryl worth $69,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KD. Truist Financial Corp raised its stake in Kyndryl by 8.9% during the 4th quarter. Truist Financial Corp now owns 19,766 shares of the company's stock valued at $684,000 after acquiring an additional 1,613 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Kyndryl by 56.4% during the fourth quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock valued at $85,000 after purchasing an additional 886 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Kyndryl by 0.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 47,226 shares of the company's stock valued at $1,634,000 after purchasing an additional 428 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Kyndryl during the fourth quarter valued at about $294,000. Finally, Proficio Capital Partners LLC acquired a new stake in Kyndryl in the fourth quarter worth about $515,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the sale, the senior vice president directly owned 73,278 shares in the company, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on KD. Susquehanna lowered their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Kyndryl from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, Oppenheimer boosted their target price on Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th.

Kyndryl Price Performance

KD stock traded up $0.01 during trading hours on Tuesday, hitting $41.97. 2,729,764 shares of the stock traded hands, compared to its average volume of 2,007,409. The stock has a 50-day simple moving average of $38.29 and a 200 day simple moving average of $36.59. The company has a market cap of $9.71 billion, a P/E ratio of 40.75, a P/E/G ratio of 0.94 and a beta of 1.93. Kyndryl Holdings, Inc. has a one year low of $21.34 and a one year high of $43.61. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29.

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