Alpha Omega Wealth Management LLC Purchases 730 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Alpha Omega Wealth Management LLC boosted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,307 shares of the company’s stock after acquiring an additional 730 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Kyndryl were worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KD. Deutsche Bank AG raised its stake in shares of Kyndryl by 1,266.6% in the third quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock worth $73,468,000 after purchasing an additional 4,509,381 shares during the last quarter. Norges Bank purchased a new stake in shares of Kyndryl in the fourth quarter worth approximately $54,283,000. Hennessy Advisors Inc. purchased a new stake in shares of Kyndryl in the fourth quarter worth approximately $28,992,000. Vanguard Group Inc. raised its stake in shares of Kyndryl by 3.4% in the third quarter. Vanguard Group Inc. now owns 26,038,728 shares of the company’s stock worth $393,185,000 after purchasing an additional 844,205 shares during the last quarter. Finally, Greenlight Capital Inc. raised its stake in shares of Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock worth $132,079,000 after purchasing an additional 767,943 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Kyndryl

In other 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 value of $802,134.80. Following the completion of the transaction, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Kyndryl Stock Performance

Shares of KD opened at $26.31 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average of $24.97 and a 200 day moving average of $22.41. Kyndryl Holdings, Inc. has a 12 month low of $11.92 and a 12 month high of $28.60. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -17.66, a PEG ratio of 6.05 and a beta of 1.70.

Kyndryl (NYSE:KD) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Kyndryl Holdings, Inc. will post 0.87 earnings per share for the current year.

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.