Mackenzie Financial Corp Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Mackenzie Financial Corp reduced its holdings in Kyndryl Holdings by 49.5%, owning 235,300 shares after selling 230,477 shares in the first quarter, which valued their stake at approximately $7.39 million.
• Despite investment reductions, several hedge funds, such as Bessemer Group Inc. and Greenleaf Trust, have increased their stakes in Kyndryl, reflecting a complex sentiment among institutional investors.
• Kyndryl's stock has seen a 0.6% decline, currently hovering around $37.76, with analysts projecting 0.73 EPS for the current fiscal year following a quarterly report that met earnings expectations.

Mackenzie Financial Corp lessened its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,300 shares of the company's stock after selling 230,477 shares during the period. Mackenzie Financial Corp owned about 0.10% of Kyndryl worth $7,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Kyndryl by 44.1% during the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock worth $136,000 after buying an additional 1,323 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Kyndryl by 121.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock valued at $652,000 after acquiring an additional 11,395 shares in the last quarter. Principal Financial Group Inc. increased its stake in Kyndryl by 0.5% in the first quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after acquiring an additional 2,807 shares during the period. Fifth Third Bancorp lifted its stake in Kyndryl by 35.5% during the first quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock worth $98,000 after purchasing an additional 815 shares during the period. Finally, Private Trust Co. NA boosted its holdings in Kyndryl by 107.9% during the first 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.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the firm's 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 transaction, the senior vice president directly owned 73,278 shares in the company, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

Kyndryl Price Performance

Kyndryl stock traded down $7.28 during mid-day trading on Tuesday, reaching $29.42. 11,398,405 shares of the company were exchanged, compared to its average volume of 2,209,281. The firm has a market cap of $6.81 billion, a PE ratio of 28.62, a PEG ratio of 3.95 and a beta of 1.91. Kyndryl Holdings, Inc. has a 12 month low of $21.64 and a 12 month high of $44.20. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day simple moving average of $40.04 and a 200-day simple moving average of $37.23.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. Kyndryl's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. As a group, equities research analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on KD. Susquehanna cut their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Oppenheimer lifted their target price on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th.

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.