Comerica Bank Sells 104,398 Shares of Kyndryl Holdings, Inc. $KD

Key Points

• Comerica Bank sold 104,398 shares of Kyndryl, cutting its stake by 60.8% to 67,436 shares worth about $1.79 million after the quarter.
• Kyndryl missed EPS estimates, reporting $0.18 versus $0.43 expected while revenue of $3.77 billion was roughly in line, and the stock is trading near $13 with the 200-day moving average at $20.42 indicating recent weakness.
• Analyst sentiment is mixed-to-negative (average rating "Reduce" with an average target of $22.79), and institutions own about 71.53% of the stock.

Comerica Bank cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 60.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,436 shares of the company's stock after selling 104,398 shares during the quarter. Comerica Bank's holdings in Kyndryl were worth $1,791,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Smartleaf Asset Management LLC grew its position in shares of Kyndryl by 192.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,171 shares of the company's stock worth $35,000 after purchasing an additional 770 shares in the last quarter. NBT Bank N A NY lifted its holdings in Kyndryl by 3,220.0% in the 4th quarter. NBT Bank N A NY now owns 1,328 shares of the company's stock worth $35,000 after purchasing an additional 1,288 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Kyndryl by 4,475.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,464 shares of the company's stock worth $39,000 after purchasing an additional 1,432 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Kyndryl in the 4th quarter worth approximately $39,000. Finally, Optiver Holding B.V. purchased a new stake in Kyndryl during the 3rd quarter valued at approximately $40,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

Kyndryl stock opened at $13.11 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $2.95 billion, a P/E ratio of 12.48 and a beta of 1.72. Kyndryl Holdings, Inc. has a 1-year low of $10.10 and a 1-year high of $44.20. The company's 50-day moving average is $13.05 and its 200 day moving average is $20.42.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.25). Kyndryl had a net margin of 1.65% and a return on equity of 25.91%. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.74 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis. Research analysts forecast that Kyndryl Holdings, Inc. will post 1.29 EPS for the current year.

Wall Street Analyst Weigh In

KD has been the topic of several research analyst reports. Scotiabank reissued a "hold" rating and issued a $16.50 target price on shares of Kyndryl in a report on Friday, April 24th. Susquehanna cut their target price on shares of Kyndryl from $35.00 to $16.00 and set a "positive" rating for the company in a research note on Friday, February 13th. Guggenheim downgraded shares of Kyndryl from a "buy" rating to a "neutral" rating in a report on Tuesday, February 10th. Oppenheimer reiterated a "market perform" rating on shares of Kyndryl in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. lowered Kyndryl from an "overweight" rating to an "underweight" rating and set a $16.00 price objective for the company. in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Kyndryl has an average rating of "Reduce" and an average target price of $22.79.

About Kyndryl

Kyndryl NYSE: KD is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM's Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl's core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.

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