New York State Common Retirement Fund Sells 75,535 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

New York State Common Retirement Fund decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,025 shares of the company’s stock after selling 75,535 shares during the quarter. New York State Common Retirement Fund owned 0.20% of Kyndryl worth $14,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock worth $964,434,000 after purchasing an additional 79,575 shares during the period. FMR LLC raised its stake in shares of Kyndryl by 105.5% during the 4th quarter. FMR LLC now owns 12,408,449 shares of the company’s stock worth $429,332,000 after acquiring an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Kyndryl by 123.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock worth $127,434,000 after purchasing an additional 2,033,549 shares during the last quarter. GMT Capital Corp grew its position in Kyndryl by 16.4% during the 4th quarter. GMT Capital Corp now owns 2,973,560 shares of the company’s stock worth $102,885,000 after purchasing an additional 418,900 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company’s stock valued at $81,177,000 after acquiring an additional 669,097 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KD shares. Susquehanna decreased their target price on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Kyndryl from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Finally, Oppenheimer increased their target price on shares of Kyndryl from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th.

Kyndryl Stock Performance

Kyndryl stock opened at $39.16 on Friday. The stock has a market cap of $9.06 billion, a P/E ratio of 38.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. The stock has a 50 day moving average of $40.34 and a 200-day moving average of $37.12. Kyndryl Holdings, Inc. has a 52 week low of $21.34 and a 52 week high of $44.20.

Kyndryl (NYSE:KD) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president owned 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

About Kyndryl

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.