Harbor Capital Advisors Inc. Acquires 11,758 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Harbor Capital Advisors Inc. boosted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 14.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,966 shares of the company's stock after buying an additional 11,758 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Kyndryl were worth $2,888,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KD. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Kyndryl during the fourth quarter worth about $30,000. True Wealth Design LLC raised its position in Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after buying an additional 524 shares during the last quarter. Versant Capital Management Inc raised its position in Kyndryl by 1,143.0% during the 1st quarter. Versant Capital Management Inc now owns 1,069 shares of the company's stock worth $34,000 after buying an additional 983 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Kyndryl in the 4th quarter valued at about $35,000. Finally, Picton Mahoney Asset Management purchased a new position in Kyndryl during the 4th quarter valued at about $38,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Price Performance

Kyndryl stock traded down $0.94 during mid-day trading on Friday, reaching $39.23. 1,548,800 shares of the company were exchanged, compared to its average volume of 1,998,601. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $43.61. The company has a fifty day simple moving average of $35.64 and a 200-day simple moving average of $36.12. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $9.13 billion, a PE ratio of 71.33, a PEG ratio of 10.84 and a beta of 1.95.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the business earned ($0.01) EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction on 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 now directly owns 73,278 shares in the company, valued at $2,868,100.92. This represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KD shares. Oppenheimer raised their target price on shares of Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Susquehanna decreased 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. Finally, Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th.

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.