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

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Kyndryl by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock worth $964,434,000 after purchasing an additional 79,575 shares in the last quarter. FMR LLC lifted its holdings in Kyndryl by 105.5% in the 4th quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after buying an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock worth $127,434,000 after buying an additional 2,033,549 shares in the last quarter. GMT Capital Corp lifted its holdings in Kyndryl by 16.4% in the 4th quarter. GMT Capital Corp now owns 2,973,560 shares of the company's stock worth $102,885,000 after buying an additional 418,900 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after buying an additional 669,097 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Analyst Upgrades and Downgrades

KD has been the topic of several recent analyst reports. Oppenheimer boosted their price target on Kyndryl from $43.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Susquehanna cut their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised Kyndryl from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president now directly owns 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by insiders.

Kyndryl Stock Down 4.2%

KD traded down $1.69 during trading on Friday, hitting $38.52. The company had a trading volume of 3,047,561 shares, compared to its average volume of 1,994,465. The company has a market cap of $8.92 billion, a PE ratio of 37.40, a P/E/G ratio of 0.87 and a beta of 1.95. The business has a 50-day moving average of $36.65 and a 200-day moving average of $36.29. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61.

Kyndryl (NYSE:KD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. As a group, analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

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.