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 acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,436 shares of the company's stock, valued at approximately $390,000.

A number of other institutional investors have also added to or reduced their stakes in KD. Opal Wealth Advisors LLC purchased a new stake in shares of Kyndryl in the first quarter worth $27,000. Hollencrest Capital Management grew its stake in shares of Kyndryl by 637.7% in the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock worth $28,000 after acquiring an additional 778 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Kyndryl in the fourth quarter worth $30,000. True Wealth Design LLC boosted its position in shares of Kyndryl by 150.6% during the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after buying an additional 524 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Kyndryl by 107.9% during the first quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after buying an additional 530 shares during the last quarter. Institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

NYSE:KD traded up $0.07 on Thursday, hitting $29.75. The stock had a trading volume of 583,325 shares, compared to its average volume of 2,268,146. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 3.15 and a beta of 1.91. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. The business's 50-day simple moving average is $39.65 and its two-hundred day simple moving average is $37.12. Kyndryl Holdings, Inc. has a 52-week low of $21.64 and a 52-week high of $44.20.

Kyndryl (NYSE:KD - Get Free Report) last posted 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. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. Kyndryl had a return on equity of 20.31% and a net margin of 1.97%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. As a group, research 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 stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This trade 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 this link. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

KD has been the topic of several recent analyst reports. Oppenheimer increased their price objective on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Susquehanna dropped 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. Finally, Wall Street Zen cut Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th.

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.