Rhumbline Advisers Sells 25,648 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Rhumbline Advisers lessened its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 3.8% during the second quarter, HoldingsChannel reports. The firm owned 642,682 shares of the company’s stock after selling 25,648 shares during the period. Rhumbline Advisers’ holdings in Kyndryl were worth $16,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Simplicity Wealth LLC raised its holdings in shares of Kyndryl by 3.0% in the 2nd quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock worth $414,000 after purchasing an additional 454 shares during the period. SummerHaven Investment Management LLC raised its holdings in Kyndryl by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock valued at $1,513,000 after acquiring an additional 563 shares during the period. Alpha Omega Wealth Management LLC raised its holdings in Kyndryl by 0.8% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock valued at $2,074,000 after acquiring an additional 730 shares during the period. Nisa Investment Advisors LLC raised its holdings in Kyndryl by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock valued at $3,095,000 after acquiring an additional 790 shares during the period. Finally, Fortis Group Advisors LLC raised its holdings in Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares during the period. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KD. Scotiabank boosted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a report on Monday, May 13th. Oppenheimer began coverage on shares of Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyndryl has an average rating of “Buy” and a consensus target price of $29.40.

Kyndryl Trading Up 1.8 %

Kyndryl stock opened at $23.01 on Tuesday. The stock has a market cap of $5.32 billion, a P/E ratio of -15.44, a PEG ratio of 4.74 and a beta of 1.65. Kyndryl Holdings, Inc. has a fifty-two week low of $13.87 and a fifty-two week high of $28.60. The firm’s fifty day moving average price is $24.74 and its 200-day moving average price is $23.91. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.78 billion. Equities research analysts forecast that Kyndryl Holdings, Inc. will post 0.95 earnings per share for the current fiscal 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.