Jag Capital Management LLC Increases Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Jag Capital Management LLC boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 3,273.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,450 shares of the company's stock after acquiring an additional 276,989 shares during the period. Kyndryl accounts for 1.2% of Jag Capital Management LLC's portfolio, making the stock its 24th largest position. Jag Capital Management LLC owned approximately 0.12% of Kyndryl worth $8,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in KD. FMR LLC raised its holdings in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock valued at $429,332,000 after acquiring an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock valued at $127,434,000 after acquiring an additional 2,033,549 shares in the last quarter. Deutsche Bank AG raised its holdings in Kyndryl by 95.9% in the fourth quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock valued at $74,287,000 after acquiring an additional 1,050,856 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Kyndryl by 180.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,331,851 shares of the company's stock valued at $46,082,000 after acquiring an additional 856,629 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Kyndryl in the fourth quarter valued at $26,085,000. 71.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the firm'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 sale, the senior vice president now owns 73,278 shares in the company, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on KD shares. Oppenheimer upped their price target on shares of Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Wall Street Zen raised shares of Kyndryl from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, Susquehanna dropped their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

Kyndryl Stock Down 0.8%

Shares of NYSE:KD opened at $41.47 on Friday. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.95. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The company's fifty day moving average is $37.78 and its two-hundred day moving average is $36.50. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07.

Kyndryl (NYSE:KD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

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.

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