Royce & Associates LP Decreases Position in Kyndryl Holdings, Inc. (NYSE:KD)

Royce & Associates LP lessened its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 33.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,553,478 shares of the company's stock after selling 777,246 shares during the quarter. Royce & Associates LP owned 0.67% of Kyndryl worth $48,779,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KD. HighTower Advisors LLC raised its stake in shares of Kyndryl by 4.8% in the 4th quarter. HighTower Advisors LLC now owns 31,109 shares of the company's stock valued at $1,076,000 after purchasing an additional 1,432 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of Kyndryl in the 4th quarter valued at about $281,000. Commonwealth Equity Services LLC raised its stake in shares of Kyndryl by 47.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 59,341 shares of the company's stock valued at $2,053,000 after purchasing an additional 19,088 shares during the period. Corient Private Wealth LLC raised its stake in shares of Kyndryl by 15.8% in the 4th quarter. Corient Private Wealth LLC now owns 43,260 shares of the company's stock valued at $1,497,000 after purchasing an additional 5,908 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Kyndryl by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock valued at $1,775,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Trading Up 0.9%

KD traded up $0.35 during trading on Monday, reaching $39.47. 1,540,005 shares of the stock traded hands, compared to its average volume of 2,168,061. 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 stock has a market capitalization of $9.13 billion, a PE ratio of 38.32, a P/E/G ratio of 0.85 and a beta of 1.93. The stock's 50-day moving average is $40.23 and its 200 day moving average is $37.22. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $44.20.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. The business had revenue of $3.80 billion for 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%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president owned 73,278 shares in the company, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

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

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.