Mediolanum International Funds Ltd Sells 162,920 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Kyndryl Holdings by 33.3%, now holding approximately 326,435 shares valued at $10.22 million.
• Various institutional investors, including American Century Companies Inc. and Vanguard Group Inc., have made significant changes to their holdings in Kyndryl, with institutional ownership now at 71.53%.
• Analysts have mixed ratings for Kyndryl, with one downgrading from "strong-buy" to "buy", while another raised the price target from $47.00 to $55.00, indicating a potential for growth.

Mediolanum International Funds Ltd cut its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,435 shares of the company's stock after selling 162,920 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.14% of Kyndryl worth $10,224,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KD. American Century Companies Inc. boosted its stake in shares of Kyndryl by 15.1% during the fourth quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock valued at $12,893,000 after purchasing an additional 48,809 shares during the period. GAMMA Investing LLC boosted its stake in shares of Kyndryl by 44.1% during the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock valued at $136,000 after purchasing an additional 1,323 shares during the period. Janney Montgomery Scott LLC boosted its stake 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 valued at $652,000 after purchasing an additional 11,395 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Kyndryl by 0.5% during the first 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 period. Finally, Fifth Third Bancorp boosted its stake in shares of Kyndryl by 35.5% during the first quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after purchasing an additional 815 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KD has been the subject of a number of analyst reports. Oppenheimer increased their price objective on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Susquehanna cut their price objective on 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 lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the transaction, the senior vice president owned 73,278 shares in the company, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their ownership of the stock. The sale 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 Stock Down 0.1%

Shares of KD traded down $0.06 on Wednesday, reaching $38.45. The stock had a trading volume of 297,746 shares, compared to its average volume of 2,150,842. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 0.86 and a beta of 1.93. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day simple moving average of $40.19 and a 200-day simple moving average of $37.25. Kyndryl Holdings, Inc. has a 12-month low of $21.34 and a 12-month high of $44.20.

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