Kyndryl Holdings, Inc. $KD Shares Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lifted its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,160,601 shares of the company’s stock after purchasing an additional 98,215 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Kyndryl were worth $13,068,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Trust Co. of Vermont bought a new stake in Kyndryl during the second quarter worth approximately $25,000. Versant Capital Management Inc lifted its holdings in shares of Kyndryl by 104.1% during the second quarter. Versant Capital Management Inc now owns 2,418 shares of the company’s stock valued at $27,000 after purchasing an additional 1,233 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Kyndryl in the first quarter worth about $29,000. NFSG Corp grew its position in Kyndryl by 177.2% during the 1st quarter. NFSG Corp now owns 2,830 shares of the company’s stock worth $37,000 after purchasing an additional 1,809 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Kyndryl by 44.8% during the second quarter. IFP Advisors Inc now owns 3,256 shares of the company’s stock valued at $37,000 after buying an additional 1,008 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

KD traded down $0.17 during trading on Friday, reaching $11.71. 855,700 shares of the company’s stock were exchanged, compared to its average volume of 4,508,838. The company has a market capitalization of $2.55 billion, a P/E ratio of 31.72 and a beta of 1.66. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average price of $12.75 and a 200 day moving average price of $12.52. Kyndryl Holdings, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $29.87.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.64 billion. Kyndryl had a net margin of 0.58% and a return on equity of 12.24%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. As a group, analysts predict that Kyndryl Holdings, Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Kyndryl from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on Kyndryl from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 10th. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 price target on shares of Kyndryl in a research note on Thursday, August 6th. Finally, Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $16.50.

Kyndryl Company Profile

Kyndryl Holdings, Inc (NYSE: KD) is an information technology services company that designs, builds, manages and modernizes mission-critical technology systems for businesses and public-sector organizations. Its services include managed infrastructure, cloud solutions, application management, network and edge services, cybersecurity, data and artificial intelligence, and technology consulting.

The company helps clients operate and transform complex IT environments, including hybrid cloud and traditional on-premises systems.