Bayforest Capital Ltd Makes New $326,000 Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Bayforest Capital Ltd made a new investment in Kyndryl Holdings, acquiring 10,389 shares valued at approximately $326,000 during the first quarter.
• Kyndryl's latest earnings report revealed an EPS of $0.52, meeting analysts' estimates, with quarterly revenue of $3.80 billion, slightly up from previous projections.
• Institutional ownership of Kyndryl is strong, with 71.53% of the stock currently held by institutional investors, indicating significant confidence in the company's potential.

Bayforest Capital Ltd bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,389 shares of the company's stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC grew its position in Kyndryl by 44.1% in the 1st quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after purchasing an additional 1,323 shares during the period. Janney Montgomery Scott LLC grew its position in Kyndryl by 121.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock worth $652,000 after purchasing an additional 11,395 shares during the period. Principal Financial Group Inc. grew its position in Kyndryl by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock worth $16,802,000 after purchasing an additional 2,807 shares during the period. Fifth Third Bancorp grew its position in Kyndryl by 35.5% in the 1st quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock worth $98,000 after purchasing an additional 815 shares during the period. Finally, Private Trust Co. NA grew its position in Kyndryl by 107.9% in the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock worth $32,000 after purchasing an additional 530 shares during the period. Institutional investors own 71.53% of the company's stock.

Kyndryl Trading Down 3.6%

NYSE KD traded down $1.37 during trading on Friday, hitting $36.40. The stock had a trading volume of 1,763,120 shares, compared to its average volume of 1,578,762. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 3.95 and a beta of 1.91. Kyndryl Holdings, Inc. has a one year low of $21.34 and a one year high of $44.20. The stock has a 50 day simple moving average of $40.08 and a 200 day simple moving average of $37.25.

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

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of Kyndryl 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 transaction, the senior vice president directly owned 73,278 shares of the company's stock, valued at $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 through this link. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KD shares. Susquehanna dropped their price target 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. Oppenheimer lifted their price target on shares of Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th.

About Kyndryl

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.