Kyndryl Holdings, Inc. (NYSE:KD) is Cortland Associates Inc. MO's 2nd Largest Position

Cortland Associates Inc. MO boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,131,738 shares of the company's stock after acquiring an additional 8,017 shares during the period. Kyndryl comprises approximately 8.0% of Cortland Associates Inc. MO's portfolio, making the stock its 2nd largest position. Cortland Associates Inc. MO owned approximately 0.92% of Kyndryl worth $66,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in Kyndryl by 15.1% during the fourth quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock worth $12,893,000 after purchasing an additional 48,809 shares in the last quarter. GAMMA Investing LLC raised its holdings in Kyndryl by 44.1% during the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after purchasing an additional 1,323 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Kyndryl by 121.8% during the first quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock worth $652,000 after purchasing an additional 11,395 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kyndryl during the fourth quarter worth about $11,359,000. Finally, Fifth Third Bancorp raised its holdings in Kyndryl by 35.5% during the first quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock worth $98,000 after purchasing an additional 815 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KD shares. Susquehanna cut their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Oppenheimer increased their price target on shares of Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday.

Insider Activity at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the 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 directly owned 73,278 shares in the company, valued at $2,868,100.92. This represents 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 through the SEC website. 1.90% of the stock is owned by corporate insiders.

Kyndryl Trading Down 4.3%

Shares of KD opened at $39.80 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. The firm's 50-day moving average is $39.93 and its two-hundred day moving average is $37.00. Kyndryl Holdings, Inc. has a twelve month low of $21.34 and a twelve month high of $44.20. The firm has a market capitalization of $9.21 billion, a P/E ratio of 38.64, a PEG ratio of 0.93 and a beta of 1.93.

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 the consensus estimate of $0.52. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, research analysts predict that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

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.

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