Vestcor Inc Purchases New Position in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Vestcor Inc has acquired a new stake in Kyndryl Holdings, purchasing 50,000 shares valued at approximately $1.57 million during the first quarter.
• Several institutional investors have significantly increased their holdings in Kyndryl, with FMR LLC boosting its stake by 105.5% in the fourth quarter alone.
• Kyndryl reported a quarterly earnings per share of $0.52, meeting analysts' expectations and showing a year-over-year revenue decline of 1.3%.

Vestcor Inc bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the company's stock, valued at approximately $1,570,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC lifted its holdings in Kyndryl by 22.4% in the fourth quarter. LPL Financial LLC now owns 99,506 shares of the company's stock worth $3,443,000 after purchasing an additional 18,198 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Kyndryl by 545.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,113 shares of the company's stock worth $861,000 after purchasing an additional 19,531 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kyndryl by 17.9% in the fourth quarter. JPMorgan Chase & Co. now owns 533,265 shares of the company's stock worth $18,451,000 after purchasing an additional 81,148 shares during the period. Norges Bank acquired a new stake in Kyndryl in the fourth quarter worth about $14,323,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Kyndryl by 12.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 39,128 shares of the company's stock worth $1,354,000 after purchasing an additional 4,379 shares during the period. Institutional investors and hedge funds own 71.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on KD shares. Oppenheimer boosted their price target on shares of Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Susquehanna dropped their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president owned 73,278 shares in the company, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Kyndryl Price Performance

Kyndryl stock traded down $1.37 during midday trading on Friday, hitting $36.40. The company's stock had a trading volume of 1,763,120 shares, compared to its average volume of 1,578,762. The stock's 50-day moving average price is $40.08 and its 200-day moving average price is $37.25. 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 company has a market capitalization of $8.42 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 3.95 and a beta of 1.91. 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $3.80 billion for 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 business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. Analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

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.