Mackenzie Financial Corp Sells 344,957 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Mackenzie Financial Corp reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 42.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,777 shares of the company's stock after selling 344,957 shares during the quarter. Mackenzie Financial Corp owned 0.20% of Kyndryl worth $16,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Kyndryl by 49.2% in the third quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after buying an additional 84,347 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock worth $80,000 after purchasing an additional 496 shares during the period. Blue Trust Inc. lifted its holdings in shares of Kyndryl by 244.6% during the fourth quarter. Blue Trust Inc. now owns 14,935 shares of the company's stock valued at $517,000 after purchasing an additional 10,601 shares during the last quarter. KBC Group NV boosted its position in shares of Kyndryl by 57.5% in the 4th quarter. KBC Group NV now owns 10,145 shares of the company's stock valued at $351,000 after purchasing an additional 3,702 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Kyndryl by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 76,380 shares of the company's stock worth $2,643,000 after purchasing an additional 3,081 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Down 1.0%

KD stock traded down $0.39 during mid-day trading on Friday, hitting $39.05. The stock had a trading volume of 1,766,021 shares, compared to its average volume of 2,016,486. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The company has a fifty day moving average of $33.85 and a 200 day moving average of $35.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 71.00, a PEG ratio of 10.84 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, equities analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Susquehanna reduced their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer raised their price objective on Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th.

About Kyndryl

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.