Blueshift Asset Management LLC Invests $390,000 in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Blueshift Asset Management LLC made a new investment of approximately $390,000 in Kyndryl Holdings, acquiring 12,436 shares during the first quarter.
• Kyndryl's latest quarterly earnings report revealed an earnings per share (EPS) of $0.52, meeting analysts' expectations, with a revenue of $3.80 billion.
• **Significant institutional interest** is seen in Kyndryl, as hedge funds and institutional investors currently own 71.53% of its stock, with several firms increasing their holdings dramatically in the last quarter.

Blueshift Asset Management LLC purchased a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,436 shares of the company's stock, valued at approximately $390,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC grew its stake in Kyndryl by 105.5% in the 4th quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after buying an additional 6,371,541 shares in the last quarter. GMT Capital Corp lifted its holdings in shares of Kyndryl by 16.4% in the 4th quarter. GMT Capital Corp now owns 2,973,560 shares of the company's stock worth $102,885,000 after acquiring an additional 418,900 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after acquiring an additional 669,097 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock worth $74,287,000 after acquiring an additional 1,050,856 shares during the last quarter. Finally, Cortland Associates Inc. MO lifted its holdings in shares of Kyndryl by 0.4% in the 1st quarter. Cortland Associates Inc. MO now owns 2,131,738 shares of the company's stock worth $66,937,000 after acquiring an additional 8,017 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Trading Down 19.7%

NYSE:KD traded down $7.25 during midday trading on Tuesday, reaching $29.46. 3,759,389 shares of the stock traded hands, compared to its average volume of 2,150,254. The company has a fifty day moving average of $40.04 and a 200 day moving average of $37.23. Kyndryl Holdings, Inc. has a 12 month low of $21.64 and a 12 month high of $44.20. 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 $6.82 billion, a P/E ratio of 28.90, a PEG ratio of 3.95 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the business earned $0.13 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction on Monday, June 2nd. The shares were 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. This represents a 26.52% decrease in their position. 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Susquehanna lowered their price objective on shares of 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 lowered shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Oppenheimer upped their price target on shares of Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th.

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.