17,515 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Bought by Wedbush Securities Inc.

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. bought a new position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 17,515 shares of the company's stock, valued at approximately $550,000.

A number of other large investors also recently added to or reduced their stakes in the business. Oak Thistle LLC purchased a new position in shares of Kyndryl in the first quarter valued at about $218,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Kyndryl during the first quarter valued at about $1,258,000. Diversify Advisory Services LLC increased its position in shares of Kyndryl by 0.4% during the first quarter. Diversify Advisory Services LLC now owns 145,044 shares of the company's stock valued at $4,734,000 after buying an additional 554 shares during the period. Hollencrest Capital Management increased its position in shares of Kyndryl by 637.7% during the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after buying an additional 778 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new position in shares of Kyndryl during the first quarter valued at about $2,540,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

KD stock traded down $0.53 during midday trading on Wednesday, reaching $37.97. 1,055,153 shares of the company's stock traded hands, compared to its average volume of 1,650,662. Kyndryl Holdings, Inc. has a 52-week low of $21.34 and a 52-week high of $44.20. The stock has a market cap of $8.79 billion, a P/E ratio of 36.86, a PEG ratio of 0.84 and a beta of 1.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. The stock's 50-day moving average is $40.16 and its 200 day moving average is $37.25.

Kyndryl (NYSE:KD - Get Free Report) last announced its 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 during 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 firm's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. As a group, analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on KD shares. Wall Street Zen lowered shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Oppenheimer boosted 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. Finally, 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.

Insider Activity

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction on 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 directly owned 73,278 shares of the company's stock, valued at $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. 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 company insiders.

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.