Kyndryl Holdings, Inc. (NYSE:KD) Stake Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,961 shares of the company’s stock after selling 927 shares during the period. Commonwealth Equity Services LLC’s holdings in Kyndryl were worth $1,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after buying an additional 39,408 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Kyndryl by 11.8% during the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock valued at $333,000 after purchasing an additional 1,621 shares during the period. Sei Investments Co. raised its stake in shares of Kyndryl by 23.4% during the first quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock valued at $5,674,000 after purchasing an additional 49,520 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Kyndryl in the second quarter worth about $1,418,000. Finally, Norges Bank bought a new position in Kyndryl in the 4th quarter valued at about $54,283,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $23.13 on Tuesday. Kyndryl Holdings, Inc. has a 52 week low of $13.87 and a 52 week high of $28.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. The stock has a market cap of $5.33 billion, a PE ratio of -15.52, a price-to-earnings-growth ratio of 4.77 and a beta of 1.64. The company’s 50-day moving average price is $24.39 and its two-hundred day moving average price is $23.95.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer started coverage on shares of Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl presently has an average rating of “Buy” and a consensus price target 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.