Wealthfront Advisers LLC Acquires Shares of 15,999 Kyndryl Holdings, Inc. (NYSE:KD)

Wealthfront Advisers LLC bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,999 shares of the company's stock, valued at approximately $502,000.

Several other large investors have also modified their holdings of KD. Castlekeep Investment Advisors LLC grew its position in Kyndryl by 29.5% in the first quarter. Castlekeep Investment Advisors LLC now owns 9,314 shares of the company's stock valued at $292,000 after acquiring an additional 2,120 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Kyndryl by 30.0% in the first quarter. Edgestream Partners L.P. now owns 40,738 shares of the company's stock valued at $1,279,000 after buying an additional 9,411 shares during the last quarter. CWM LLC raised its stake in shares of Kyndryl by 3.4% during the first quarter. CWM LLC now owns 37,741 shares of the company's stock valued at $1,185,000 after purchasing an additional 1,228 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Kyndryl by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 65,200 shares of the company's stock valued at $2,047,000 after purchasing an additional 700 shares in the last quarter. Finally, Cortland Associates Inc. MO increased its stake in Kyndryl by 0.4% in the 1st quarter. Cortland Associates Inc. MO now owns 2,131,738 shares of the company's stock worth $66,937,000 after purchasing an additional 8,017 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KD shares. Susquehanna reduced their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Oppenheimer upped their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th.

Kyndryl Trading Down 1.9%

Shares of KD traded down $0.72 during trading hours on Thursday, hitting $38.34. 1,945,044 shares of the stock traded hands, compared to its average volume of 2,161,960. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $44.20. The firm has a market capitalization of $8.87 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.93. The business has a fifty day moving average of $40.30 and a 200-day moving average of $37.22.

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 analysts' consensus estimates of $0.52. The business had revenue of $3.80 billion during 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%. Kyndryl's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share. Analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

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.