PNC Financial Services Group Inc. Cuts Position in Kyndryl Holdings, Inc. (NYSE:KD)

PNC Financial Services Group Inc. trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 27.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,496 shares of the company’s stock after selling 9,722 shares during the period. PNC Financial Services Group Inc.’s holdings in Kyndryl were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of KD. Fortis Group Advisors LLC grew its position in Kyndryl by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares in the last quarter. Pingora Partners LLC bought a new position in shares of Kyndryl during the 4th quarter valued at approximately $50,000. Raleigh Capital Management Inc. increased its position in shares of Kyndryl by 100.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in Kyndryl during the 4th quarter valued at $138,000. Finally, Cerity Partners LLC bought a new stake in Kyndryl in the fourth quarter worth $206,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Up 3.0 %

Shares of KD opened at $26.04 on Friday. The firm has a market capitalization of $6.00 billion, a P/E ratio of -17.48, a P/E/G ratio of 5.87 and a beta of 1.70. Kyndryl Holdings, Inc. has a 12-month low of $11.92 and a 12-month high of $28.60. The firm has a fifty day moving average price of $24.84 and a 200-day moving average price of $22.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77.

Kyndryl (NYSE:KD) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. Equities research analysts expect that Kyndryl Holdings, Inc. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at approximately $2,075,111.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Susquehanna increased their target price on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. Scotiabank increased their price objective on shares of Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Finally, Oppenheimer started coverage on shares of Kyndryl in a research note on Thursday. They issued an “outperform” rating and a $33.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $29.40.

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.