Bank of America Corp DE Sells 297,467 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Bank of America Corp DE lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 25.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 864,079 shares of the company's stock after selling 297,467 shares during the period. Bank of America Corp DE owned about 0.37% of Kyndryl worth $29,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KD. Bessemer Group Inc. grew its stake in shares of Kyndryl by 9.4% in the fourth quarter. Bessemer Group Inc. now owns 2,881 shares of the company's stock worth $99,000 after purchasing an additional 247 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Kyndryl by 35.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after acquiring an additional 297 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Kyndryl by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock valued at $1,775,000 after acquiring an additional 332 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Kyndryl by 19.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company's stock valued at $78,000 after acquiring an additional 370 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Kyndryl by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company's stock valued at $2,232,000 after purchasing an additional 400 shares during the period. Institutional investors own 71.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KD. Susquehanna dropped 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. Oppenheimer lifted their target price on shares of Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th.

Kyndryl Trading Down 1.9%

NYSE KD traded down $0.75 during trading hours on Wednesday, hitting $39.38. 1,340,163 shares of the company's stock were exchanged, compared to its average volume of 2,022,326. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 71.59, a PEG ratio of 10.84 and a beta of 1.91. The stock has a 50-day simple moving average of $33.18 and a 200 day simple moving average of $34.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. Kyndryl's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, equities analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

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.