Kyndryl Holdings, Inc. $KD Position Increased by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates increased its Kyndryl stake by 9.2% in the third quarter, adding 98,215 shares for a total of 1.16 million shares valued at approximately $13.1 million. Institutional investors and hedge funds collectively own 71.53% of the company.
• Kyndryl shares fell 1.4% to $11.71, well below their 52-week high of $29.87. The company recently reported an adjusted quarterly loss of $0.12 per share, although it beat analysts’ loss estimate.
• Analyst sentiment remains cautious: seven analysts rate Kyndryl “Hold” and two rate it “Sell,” resulting in a consensus “Reduce” rating and an average price target of $16.50.

Douglas Lane & Associates LLC raised its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,601 shares of the company's stock after purchasing an additional 98,215 shares during the period. Douglas Lane & Associates LLC owned 0.53% of Kyndryl worth $13,068,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Trust Co. of Vermont acquired a new position in Kyndryl in the 2nd quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in shares of Kyndryl by 104.1% during the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company's stock worth $27,000 after buying an additional 1,233 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Kyndryl during the first quarter worth about $29,000. NFSG Corp raised its position in shares of Kyndryl by 177.2% in the first quarter. NFSG Corp now owns 2,830 shares of the company's stock valued at $37,000 after buying an additional 1,809 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Kyndryl by 44.8% during the second quarter. IFP Advisors Inc now owns 3,256 shares of the company's stock valued at $37,000 after buying an additional 1,008 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Down 1.4%

Shares of KD stock traded down $0.17 on Friday, hitting $11.71. The stock had a trading volume of 855,700 shares, compared to its average volume of 4,508,838. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 31.72 and a beta of 1.66. The stock's 50 day moving average is $12.75 and its 200-day moving average is $12.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.85 and a current ratio of 0.85. Kyndryl Holdings, Inc. has a 52-week low of $10.10 and a 52-week high of $29.87.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. As a group, research analysts expect that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

KD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Kyndryl from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Monday, August 10th. Zacks Research upgraded Kyndryl from a "strong sell" rating to a "hold" rating in a report on Monday, September 14th. Weiss Ratings downgraded shares of Kyndryl from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $16.00 target price on shares of Kyndryl in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $16.50.

About Kyndryl

Kyndryl Holdings, Inc NYSE: KD is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.

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