Kyndryl Holdings, Inc. (NYSE:KD) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Kyndryl Holdings, Inc. by 28.6%, owning 127,987 shares valued at approximately $4 million as per its recent SEC filing.
• Institutional investors now hold 71.53% of Kyndryl's stock, indicating a strong institutional interest in the company.
• Kyndryl reported $0.37 EPS for the last quarter, exceeding estimates, though its revenue of $3.74 billion fell short of analyst expectations.

LPL Financial LLC boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 28.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,987 shares of the company's stock after acquiring an additional 28,481 shares during the period. LPL Financial LLC owned 0.06% of Kyndryl worth $4,019,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in KD. Opal Wealth Advisors LLC purchased a new stake in Kyndryl in the 1st quarter valued at approximately $27,000. Hollencrest Capital Management boosted its holdings in Kyndryl by 637.7% in the 1st quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after purchasing an additional 778 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Kyndryl in the 4th quarter valued at approximately $30,000. True Wealth Design LLC boosted its holdings in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after purchasing an additional 524 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Kyndryl by 107.9% in the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after purchasing an additional 530 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the sale, the senior vice president owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

Kyndryl Price Performance

Shares of NYSE:KD opened at $30.13 on Friday. The business's 50 day simple moving average is $38.52 and its 200-day simple moving average is $36.76. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.34 and a beta of 1.91. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.05 and a quick ratio of 1.05. Kyndryl Holdings, Inc. has a 12 month low of $22.26 and a 12 month high of $44.20.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KD shares. Susquehanna lowered their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer boosted their price target on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th.

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.

Want to see what other hedge funds are holding KD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kyndryl Holdings, Inc. (NYSE:KD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.