Allspring Global Investments Holdings LLC Cuts Position in Kyndryl Holdings, Inc. (NYSE:KD)

Allspring Global Investments Holdings LLC trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,524,725 shares of the company's stock after selling 484,602 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.54% of Kyndryl worth $73,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bartlett & Co. LLC raised its position in Kyndryl by 142.0% during the third quarter. Bartlett & Co. LLC now owns 1,873 shares of the company's stock valued at $28,000 after purchasing an additional 1,099 shares during the period. Fairfield Bush & CO. purchased a new stake in Kyndryl during the 2nd quarter valued at $28,000. Raleigh Capital Management Inc. lifted its position in Kyndryl by 100.3% in the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company's stock worth $46,000 after buying an additional 1,517 shares during the last quarter. State of Wyoming purchased a new position in Kyndryl during the second quarter worth $55,000. Finally, Huntington National Bank increased its position in Kyndryl by 32.9% during the third quarter. Huntington National Bank now owns 3,714 shares of the company's stock valued at $56,000 after acquiring an additional 919 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Trading Down 3.4 %

Shares of NYSE:KD traded down $0.76 during trading on Wednesday, reaching $21.40. 1,233,732 shares of the company were exchanged, compared to its average volume of 1,519,929. The business's fifty day simple moving average is $21.60 and its 200-day simple moving average is $19.21. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94. Kyndryl Holdings, Inc. has a 12-month low of $11.35 and a 12-month high of $22.90. The firm has a market capitalization of $4.92 billion, a PE ratio of -4.72, a P/E/G ratio of 6.16 and a beta of 1.54.

Kyndryl (NYSE:KD - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The firm had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. On average, research analysts anticipate that Kyndryl Holdings, Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KD. JPMorgan Chase & Co. raised shares of Kyndryl from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $20.00 to $25.00 in a research note on Monday, December 18th. TheStreet upgraded Kyndryl from a "d" rating to a "c" rating in a report on Tuesday, December 12th. Susquehanna raised Kyndryl from a "neutral" rating to a "positive" rating and raised their price target for the stock from $19.00 to $27.00 in a research note on Monday, February 12th. Finally, Evercore ISI raised Kyndryl from an "in-line" rating to an "outperform" rating and set a $26.00 price objective on the stock in a research report on Monday, January 8th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl has an average rating of "Buy" and an average target price of $25.00.

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.