Ritholtz Wealth Management Invests $496,000 in Kyndryl Holdings, Inc. (NYSE:KD)

Ritholtz Wealth Management bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,792 shares of the company's stock, valued at approximately $496,000.

Several other large investors have also recently bought and sold shares of KD. Opal Wealth Advisors LLC acquired a new position in shares of Kyndryl in the first quarter valued at approximately $27,000. Sky Investment Group LLC grew its holdings in Kyndryl by 17.0% during the 1st quarter. Sky Investment Group LLC now owns 103,350 shares of the company's stock worth $3,245,000 after acquiring an additional 15,015 shares during the last quarter. Fifth Third Bancorp increased its position in Kyndryl by 35.5% in the 1st quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after acquiring an additional 815 shares during the period. SG Americas Securities LLC bought a new position in shares of Kyndryl during the first quarter valued at $863,000. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 1,323 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Kyndryl Trading Down 4.2%

Kyndryl stock traded down $1.69 during mid-day trading on Friday, hitting $38.52. 3,047,561 shares of the stock were exchanged, compared to its average volume of 1,998,610. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 0.91 and a beta of 1.95. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $43.61. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. The firm's fifty day simple moving average is $36.65 and its two-hundred day simple moving average is $36.28.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. Kyndryl's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. Analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 73,278 shares of the company's stock, valued at $2,868,100.92. This trade represents a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.04% of the company's stock.

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.