Wedbush Securities Inc. Purchases Shares of 17,515 Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Wedbush Securities Inc. acquired 17,515 shares of Kyndryl Holdings, Inc. for approximately $550,000 in the first quarter, increasing institutional ownership to over 71% of the company.
• Kyndryl reported $3.80 billion in revenue for the last quarter, exceeding analyst estimates, while its earnings per share matched expectations at $0.52.
• Various analysts have adjusted their price targets for Kyndryl, with Oppenheimer raising it from $47.00 to $55.00, indicating a positive outlook for the stock.

Wedbush Securities Inc. purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,515 shares of the company's stock, valued at approximately $550,000.

Other institutional investors have also bought and sold shares of the company. Oak Thistle LLC bought a new position in shares of Kyndryl during the 1st quarter worth about $218,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Kyndryl during the 1st quarter worth about $1,258,000. Diversify Advisory Services LLC boosted its position in shares of Kyndryl by 0.4% during the 1st quarter. Diversify Advisory Services LLC now owns 145,044 shares of the company's stock worth $4,734,000 after purchasing an additional 554 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Kyndryl by 637.7% during the 1st quarter. Hollencrest Capital Management now owns 900 shares of the company's stock worth $28,000 after purchasing an additional 778 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new position in shares of Kyndryl during the 1st quarter worth about $2,540,000. Institutional investors own 71.53% of the company's stock.

Kyndryl Price Performance

Kyndryl stock opened at $39.10 on Friday. Kyndryl Holdings, Inc. has a 52 week low of $21.34 and a 52 week high of $44.20. The company's 50 day moving average price is $40.23 and its two-hundred day moving average price is $37.23. 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 cap of $9.05 billion, a P/E ratio of 37.96, a P/E/G ratio of 0.85 and a beta of 1.93.

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

Insider Activity

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 owned 73,278 shares in the company, valued at $2,868,100.92. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KD. Susquehanna cut their price objective 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. Oppenheimer raised their price target on shares of Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th.

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.

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