Jag Capital Management LLC raised its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 3,273.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,450 shares of the company's stock after purchasing an additional 276,989 shares during the quarter. Kyndryl comprises approximately 1.2% of Jag Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Jag Capital Management LLC owned 0.12% of Kyndryl worth $8,963,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Money Concepts Capital Corp lifted its stake in shares of Kyndryl by 4.3% in the 1st quarter. Money Concepts Capital Corp now owns 29,869 shares of the company's stock worth $938,000 after acquiring an additional 1,242 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in Kyndryl in the first quarter worth approximately $310,000. Harbour Capital Advisors LLC boosted its stake in Kyndryl by 14.8% during the 1st quarter. Harbour Capital Advisors LLC now owns 30,690 shares of the company's stock valued at $951,000 after purchasing an additional 3,965 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Kyndryl by 19.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,591 shares of the company's stock valued at $741,000 after purchasing an additional 3,894 shares during the period. Finally, Retirement Systems of Alabama raised its stake in shares of Kyndryl by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 283,218 shares of the company's stock worth $8,893,000 after buying an additional 797 shares in the last quarter. Institutional investors own 71.53% of the company's stock.
Insider Activity
In other Kyndryl 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 value of $1,035,292.14. Following the transaction, the senior vice president owned 73,278 shares in the company, 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 is available through the SEC website. 1.90% of the stock is owned by company insiders.
Kyndryl Trading Up 0.0%
Kyndryl stock traded up $0.01 during midday trading on Tuesday, reaching $41.97. The stock had a trading volume of 2,716,183 shares, compared to its average volume of 2,005,229. The firm's fifty day simple moving average is $38.04 and its two-hundred day simple moving average is $36.55. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. Kyndryl Holdings, Inc. has a twelve month low of $21.34 and a twelve month high of $43.61. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 0.93 and a beta of 1.95.
Kyndryl (NYSE:KD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.77 billion. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. Kyndryl's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. Equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have commented on KD. Susquehanna dropped their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer upped their price target on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Kyndryl from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st.
Check Out Our Latest Research Report on Kyndryl
Kyndryl Company Profile
(
Free Report)
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.
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