Vestcor Inc Takes 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 acquired a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 50,000 shares of the company's stock, valued at approximately $1,570,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd grew its stake in shares of Kyndryl by 5.6% in the 1st quarter. XTX Topco Ltd now owns 19,628 shares of the company's stock valued at $616,000 after buying an additional 1,048 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Kyndryl by 8.4% in the 1st quarter. Federated Hermes Inc. now owns 48,330 shares of the company's stock valued at $1,518,000 after purchasing an additional 3,737 shares during the last quarter. LPL Financial LLC raised its position in Kyndryl by 28.6% in the 1st quarter. LPL Financial LLC now owns 127,987 shares of the company's stock valued at $4,019,000 after purchasing an additional 28,481 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kyndryl by 2.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,321 shares of the company's stock worth $1,957,000 after purchasing an additional 1,641 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Kyndryl by 87.8% during the first quarter. Cetera Investment Advisers now owns 30,286 shares of the company's stock worth $951,000 after purchasing an additional 14,155 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Wall Street Analyst Weigh In

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

Kyndryl Stock Performance

NYSE:KD traded down $7.20 during trading hours on Tuesday, reaching $29.50. The stock had a trading volume of 11,512,910 shares, compared to its average volume of 2,209,281. Kyndryl Holdings, Inc. has a 12-month low of $21.64 and a 12-month high of $44.20. The stock has a 50 day simple moving average of $40.04 and a 200 day simple moving average of $37.23. The stock has a market cap of $6.83 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 3.95 and a beta of 1.91. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The company's revenue was up .1% on a year-over-year basis. On average, research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of Kyndryl 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 completion of the transaction, the senior vice president directly owned 73,278 shares of the company's stock, valued at $2,868,100.92. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% 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.