Connor Clark & Lunn Investment Management Ltd. Purchases 31,474 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Kyndryl Holdings by 4.7%, owning approximately 0.30% of the company, valued at nearly $22 million.
• Multiple hedge funds significantly boosted their holdings in Kyndryl during the last quarter, including Deutsche Bank AG, which increased its stake by 95.9%.
• Kyndryl's stock recently rose by 1.8%, with a current market capitalization of $7.10 billion and a 12-month high of $44.20.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 699,661 shares of the company's stock after purchasing an additional 31,474 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Kyndryl worth $21,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KD. Opal Wealth Advisors LLC acquired a new stake in shares of Kyndryl in the first quarter worth about $27,000. True Wealth Design LLC lifted its position in shares of Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after buying an additional 524 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Kyndryl in the fourth quarter worth about $30,000. Hollencrest Capital Management lifted its position 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 buying an additional 778 shares during the last quarter. Finally, SSA Swiss Advisors AG acquired a new stake in shares of Kyndryl in the first quarter worth about $32,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Price Performance

Shares of KD stock traded down $0.42 during trading hours on Thursday, hitting $30.13. The company had a trading volume of 3,579,348 shares, compared to its average volume of 3,310,262. Kyndryl Holdings, Inc. has a 12 month low of $22.26 and a 12 month high of $44.20. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 3.34 and a beta of 1.91. The firm's fifty day moving average is $38.52 and its 200 day moving average is $36.76. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.05 and a current ratio of 1.05.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $3.83 billion. During the same period in the prior year, the company posted $0.13 EPS. The company's revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KD shares. Wall Street Zen downgraded Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Susquehanna lowered their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Oppenheimer raised their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Kyndryl 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.