Prosperity Wealth Management Inc. Makes New Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Prosperity Wealth Management Inc. bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,650 shares of the company's stock, valued at approximately $303,000.

Other large investors have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Kyndryl during the 1st quarter worth approximately $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Kyndryl during the 4th quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after acquiring an additional 524 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Kyndryl by 1,143.0% during the 1st quarter. Versant Capital Management Inc now owns 1,069 shares of the company's stock worth $34,000 after acquiring an additional 983 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Kyndryl during the 4th quarter worth approximately $35,000. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Down 0.4%

Shares of NYSE KD traded down $0.17 during trading hours on Thursday, hitting $40.19. The company had a trading volume of 1,214,876 shares, compared to its average volume of 1,993,356. The stock has a market capitalization of $9.30 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 0.91 and a beta of 1.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The firm's 50 day moving average is $36.25 and its 200-day moving average is $36.21.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.01) EPS. On average, analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction that occurred on 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 now owns 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

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