Clifford Swan Investment Counsel LLC Cuts Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Clifford Swan Investment Counsel LLC cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 57.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,760 shares of the company's stock after selling 57,883 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Kyndryl were worth $1,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. increased its stake in Kyndryl by 15.1% during the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock worth $12,893,000 after buying an additional 48,809 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Kyndryl by 44.1% in the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after acquiring an additional 1,323 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of 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. Principal Financial Group Inc. raised its stake in Kyndryl by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after purchasing an additional 2,807 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Kyndryl by 35.5% in the 1st quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after purchasing an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KD. Susquehanna lowered 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 upped their price objective on shares of Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen lowered shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the firm's 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 completion of the transaction, the senior vice president owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Kyndryl Trading Down 1.7%

Shares of Kyndryl stock traded down $0.67 on Thursday, reaching $38.39. The company had a trading volume of 2,257,784 shares, compared to its average volume of 2,163,904. The firm's 50 day moving average price is $40.30 and its two-hundred day moving average price is $37.22. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. Kyndryl Holdings, Inc. has a 52-week low of $21.34 and a 52-week high of $44.20. The firm has a market cap of $8.89 billion, a PE ratio of 37.26, a PEG ratio of 0.87 and a beta of 1.93.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.73 earnings per share 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.