Vanguard Group Inc. Lowers Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Vanguard Group Inc. decreased its stake in Kyndryl Holdings by 2.9%, now owning approximately 11.63% of the company, equating to 27,071,883 shares valued at around $850 million.
• Several institutional investors have increased their holdings, with Envestnet Asset Management Inc. raising its stake by 64.3% in the last quarter, demonstrating growing institutional confidence in Kyndryl.
• Analysts have varied opinions on Kyndryl's stock, with Oppenheimer raising the price target to $55.00, while Susquehanna reduced it to $43.00, reflecting differing perspectives on the company's performance.

Vanguard Group Inc. reduced its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,071,883 shares of the company's stock after selling 801,936 shares during the period. Vanguard Group Inc. owned 11.63% of Kyndryl worth $850,057,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its holdings in Kyndryl by 95.9% in the fourth quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock valued at $74,287,000 after acquiring an additional 1,050,856 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Kyndryl by 180.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,331,851 shares of the company's stock valued at $46,082,000 after acquiring an additional 856,629 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in Kyndryl in the fourth quarter valued at $26,085,000. Invesco Ltd. lifted its holdings in Kyndryl by 39.9% in the fourth quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock valued at $81,177,000 after acquiring an additional 669,097 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Kyndryl by 60.5% in the fourth quarter. AQR Capital Management LLC now owns 1,747,662 shares of the company's stock valued at $60,469,000 after acquiring an additional 658,866 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Price Performance

Kyndryl stock traded up $0.06 during midday trading on Friday, reaching $30.15. 1,938,314 shares of the company were exchanged, compared to its average volume of 2,348,624. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 3.34 and a beta of 1.91. The firm's 50-day simple moving average is $38.52 and its 200-day simple moving average is $36.76. Kyndryl Holdings, Inc. has a 1 year low of $22.26 and a 1 year high of $44.20. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.05 and a current ratio of 1.05.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.83 billion. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Oppenheimer raised their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Susquehanna dropped their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction dated 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 completion of the sale, the senior vice president owned 73,278 shares in the company, valued at $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company's stock.

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.