Wedmont Private Capital Boosts Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Wedmont Private Capital lifted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,012 shares of the company’s stock after acquiring an additional 2,998 shares during the quarter. Wedmont Private Capital’s holdings in Kyndryl were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth $30,000. True Wealth Design LLC increased its holdings in Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company’s stock valued at $30,000 after buying an additional 524 shares during the last quarter. Versant Capital Management Inc increased its holdings in Kyndryl by 1,143.0% in the first quarter. Versant Capital Management Inc now owns 1,069 shares of the company’s stock valued at $34,000 after buying an additional 983 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Kyndryl in the fourth quarter valued at $35,000. Finally, Picton Mahoney Asset Management purchased a new position in Kyndryl in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the sale, the senior vice president now owns 73,278 shares in the company, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Susquehanna dropped their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen lowered Kyndryl from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Oppenheimer increased their target price on Kyndryl from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th.

Kyndryl Stock Performance

Shares of KD stock opened at $40.27 on Wednesday. The stock’s 50-day moving average is $34.93 and its two-hundred day moving average is $35.99. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 73.21, a PEG ratio of 10.84 and a beta of 1.95. Kyndryl Holdings, Inc. has a 1 year low of $21.34 and a 1 year high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. Analysts predict that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

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.