Westfield Capital Management Co. LP Sells 1,697,835 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Westfield Capital Management Co. LP has reduced its holdings in Kyndryl Holdings, Inc. by 36.8%, selling 1,697,835 shares and owning a total of 2,911,964 shares valued at approximately $91.4 million.
• Several institutional investors, including FMR LLC and Deutsche Bank AG, have significantly increased their stake in Kyndryl during the fourth quarter, indicating strong interest in the company's stock.
• Kyndryl's stock price opened at $36.40, down 3.6%, with a reported revenue of $3.80 billion for the last quarter, slightly above analyst expectations.

Westfield Capital Management Co. LP trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 36.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,911,964 shares of the company's stock after selling 1,697,835 shares during the quarter. Westfield Capital Management Co. LP owned about 1.25% of Kyndryl worth $91,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Kyndryl during the 1st quarter valued at $27,000. Hollencrest Capital Management lifted its stake in Kyndryl by 637.7% in 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. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Kyndryl during the fourth quarter worth $30,000. True Wealth Design LLC grew its stake in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after purchasing an additional 524 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Kyndryl by 107.9% during the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock worth $32,000 after acquiring an additional 530 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Trading Up 2.7%

Shares of KD traded up $0.78 during midday trading on Wednesday, hitting $29.72. 7,159,682 shares of the stock were exchanged, compared to its average volume of 2,383,025. The firm has a market cap of $6.88 billion, a P/E ratio of 28.37, a P/E/G ratio of 3.15 and a beta of 1.91. The stock has a fifty day simple moving average of $39.84 and a 200 day simple moving average of $37.17. Kyndryl Holdings, Inc. has a 52-week low of $21.64 and a 52-week high of $44.20. 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 announced its quarterly earnings data on Monday, August 4th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Kyndryl had a return on equity of 20.31% and a net margin of 1.97%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company earned $0.13 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by 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.