Zimmer Partners LP Sells 476,254 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Zimmer Partners LP decreased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,247,641 shares of the company's stock after selling 476,254 shares during the period. Kyndryl accounts for about 1.3% of Zimmer Partners LP's holdings, making the stock its 22nd largest holding. Zimmer Partners LP owned about 0.97% of Kyndryl worth $77,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KD. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Kyndryl in the 4th quarter worth approximately $30,000. True Wealth Design LLC grew its stake in shares of Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after buying an additional 524 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Kyndryl in the 4th quarter worth approximately $35,000. Picton Mahoney Asset Management bought a new position in Kyndryl in the 4th quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC lifted its position in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $39,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on KD. Oppenheimer upped their price objective on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Susquehanna lowered their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

Kyndryl Stock Performance

Shares of NYSE KD traded down $0.48 during midday trading on Friday, hitting $38.87. 1,089,385 shares of the stock traded hands, compared to its average volume of 2,019,559. The firm has a 50-day moving average of $33.43 and a two-hundred day moving average of $35.10. The firm has a market capitalization of $9.04 billion, a P/E ratio of 70.67, a PEG ratio of 10.84 and a beta of 1.91. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. Kyndryl Holdings, Inc. has a one year low of $21.34 and a one year high of $43.61.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.77 billion. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. On average, equities analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

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.