Charles Schwab Investment Management Inc. Reduces Holdings in Kyndryl Holdings, Inc. $KD

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Kyndryl Holdings, Inc. by 6.2%, selling 119,575 shares during the first quarter, leaving it with approximately 1.8 million shares valued at $56.9 million.
• Recent analyst ratings for Kyndryl include Oppenheimer raising their price target from $47 to $55 and Wall Street Zen downgrading the stock from "strong-buy" to "buy."
• Kyndryl reported $0.37 earnings per share for the last quarter, slightly above analyst estimates, but fell short on revenue expectations with $3.74 billion reported.

Charles Schwab Investment Management Inc. cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,813,350 shares of the company's stock after selling 119,575 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.78% of Kyndryl worth $56,939,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Kyndryl during the 1st quarter valued at $27,000. True Wealth Design LLC grew its position in Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after acquiring an additional 524 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Kyndryl in the 4th quarter worth approximately $30,000. Hollencrest Capital Management boosted its position in shares of Kyndryl by 637.7% during the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after purchasing an additional 778 shares in the last quarter. Finally, SSA Swiss Advisors AG bought a new stake in Kyndryl in the first quarter worth $32,000. 71.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KD shares. Susquehanna decreased their price objective on 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 lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Oppenheimer lifted their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th.

Kyndryl Price Performance

Shares of KD stock traded up $0.38 during trading hours on Monday, reaching $30.36. The company had a trading volume of 2,194,935 shares, compared to its average volume of 2,356,846. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $38.31 and a 200-day moving average of $36.68. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 3.28 and a beta of 1.91. Kyndryl Holdings, Inc. has a 12-month low of $22.26 and a 12-month high of $44.20.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm's revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

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.