First Citizens Bank & Trust Co. Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

First Citizens Bank & Trust Co. acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,216 shares of the company's stock, valued at approximately $258,000.

Several other large investors also recently modified their holdings of the company. True Wealth Design LLC lifted its stake in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after purchasing an additional 524 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Kyndryl during the fourth quarter valued at $30,000. Millstone Evans Group LLC bought a new stake in shares of Kyndryl in the fourth quarter valued at about $35,000. Versant Capital Management Inc lifted its stake in Kyndryl by 1,143.0% in the first quarter. Versant Capital Management Inc now owns 1,069 shares of the company's stock worth $34,000 after acquiring an additional 983 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in Kyndryl in the fourth quarter worth about $38,000. Institutional investors own 71.53% of the company's stock.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the transaction, the senior vice president now owns 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.04% of the company's stock.

Kyndryl Stock Down 0.6%

KD stock traded down $0.24 during midday trading on Thursday, hitting $40.13. The company's stock had a trading volume of 1,146,986 shares, compared to its average volume of 1,999,083. The firm has a market capitalization of $9.34 billion, a P/E ratio of 72.96, a PEG ratio of 10.84 and a beta of 1.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 52-week low of $21.34 and a 52-week high of $43.61. The firm has a 50-day simple moving average of $35.40 and a 200-day simple moving average of $36.07.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm's revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

KD has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Susquehanna dropped their price objective 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 lifted their target price 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.

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.