Comerica Bank Decreases Stake in Kyndryl Holdings, Inc. $KD

Key Points

• Comerica Bank reduced its stake in Kyndryl Holdings by 32.3%, selling 274,770 shares in the first quarter, leaving them with approximately 0.25% ownership of the company's stock valued at $18.1 million.
• Deutsche Bank AG significantly increased its holdings in Kyndryl by 95.9% during the fourth quarter, now owning over 2.1 million shares valued at $74.3 million.
• Kyndryl reported Q2 earnings of $0.37 EPS, exceeding estimates, with revenues totaling $3.74 billion, slightly below analysts’ expectations of $3.83 billion.

Comerica Bank cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 577,110 shares of the company's stock after selling 274,770 shares during the quarter. Comerica Bank owned about 0.25% of Kyndryl worth $18,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KD. Opal Wealth Advisors LLC purchased a new stake in Kyndryl in the first quarter valued at about $27,000. Hollencrest Capital Management raised its stake in Kyndryl by 637.7% in the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after buying an additional 778 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Kyndryl in the fourth quarter valued at about $30,000. True Wealth Design LLC raised its stake in Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after buying an additional 524 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in Kyndryl by 107.9% in the first quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after buying an additional 530 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on KD. Oppenheimer increased their price target on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $46.00.

Kyndryl Price Performance

Shares of Kyndryl stock traded up $0.29 on Friday, hitting $31.80. The company's stock had a trading volume of 1,723,127 shares, compared to its average volume of 3,859,277. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.05 and a current ratio of 1.05. Kyndryl Holdings, Inc. has a 1 year low of $22.26 and a 1 year high of $44.20. The firm has a fifty day moving average price of $36.50 and a 200-day moving average price of $36.03. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 3.47 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%.The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business earned $0.13 EPS. Kyndryl's revenue for the quarter was up .1% compared to the same quarter last year. Kyndryl has set its FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the business's stock in a transaction dated 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 completion of the sale, the senior vice president owned 73,278 shares of the company's stock, valued at $2,868,100.92. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

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.