Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada reduced its holdings in Kyndryl Holdings, Inc. by 84.5%, leaving it with 251,891 shares valued at $7.90 million as of the latest SEC filing.
• Institutional investors collectively own 71.53% of Kyndryl's stock, with several firms like GMT Capital Corp and Deutsche Bank AG increasing their stakes recently.
• Kyndryl's stock price recently saw a fluctuation, with price objectives set by analysts ranging from $43.00 to $55.00, reflecting varied outlooks on its performance.

National Bank of Canada FI trimmed its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 84.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,891 shares of the company's stock after selling 1,370,693 shares during the quarter. National Bank of Canada FI owned approximately 0.11% of Kyndryl worth $7,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Kyndryl by 44.1% during the 1st 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 last quarter. Janney Montgomery Scott LLC raised its stake 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 buying an additional 11,395 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Kyndryl by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 535,085 shares of the company's stock valued at $16,802,000 after buying an additional 2,807 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Kyndryl by 35.5% during the 1st quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after buying an additional 815 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Kyndryl by 107.9% during the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after acquiring an additional 530 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer raised their target price on shares of Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Susquehanna decreased their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Kyndryl Price Performance

Kyndryl stock traded down $0.11 during mid-day trading on Friday, reaching $29.98. The company had a trading volume of 3,304,826 shares, compared to its average volume of 3,428,587. 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 current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $6.93 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.29 and a beta of 1.91. The stock's 50-day simple moving average is $38.31 and its 200-day simple moving average is $36.70.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Kyndryl had a net margin of 1.97% and a return on equity of 19.88%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities 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.