Douglas Lane & Associates LLC Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Douglas Lane & Associates LLC cut its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 959,796 shares of the company's stock after selling 39,490 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.41% of Kyndryl worth $30,138,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KD. American Century Companies Inc. increased its position in Kyndryl by 15.1% in the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock valued at $12,893,000 after acquiring an additional 48,809 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Kyndryl in the 4th quarter valued at approximately $515,000. Barclays PLC increased its holdings in shares of Kyndryl by 49.2% in the third quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after purchasing an additional 84,347 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth approximately $11,359,000. Finally, Stephens Inc. AR acquired a new stake in shares of Kyndryl during the fourth quarter worth $1,097,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Susquehanna cut their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer upped their price target on shares of Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th.

Kyndryl Trading Up 0.3%

Shares of NYSE KD traded up $0.10 during midday trading on Thursday, reaching $39.65. 698,569 shares of the stock were exchanged, compared to its average volume of 2,283,020. Kyndryl Holdings, Inc. has a 52-week low of $21.34 and a 52-week high of $43.61. The stock has a 50 day moving average price of $34.27 and a 200-day moving average price of $35.67. The company has a market capitalization of $9.23 billion, a P/E ratio of 72.09, a P/E/G ratio of 10.84 and a beta of 1.95. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction, the senior vice president now directly owns 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% 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.