Nisa Investment Advisors LLC Cuts Position in Kyndryl Holdings, Inc. $KD

Nisa Investment Advisors LLC trimmed its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 25.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 87,300 shares of the company’s stock after selling 29,712 shares during the period. Nisa Investment Advisors LLC’s holdings in Kyndryl were worth $2,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Voya Investment Management LLC increased its holdings in shares of Kyndryl by 56.2% in the 1st quarter. Voya Investment Management LLC now owns 71,664 shares of the company’s stock worth $2,250,000 after purchasing an additional 25,784 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Kyndryl in the 2nd quarter worth about $5,026,000. Penserra Capital Management LLC bought a new position in Kyndryl during the 2nd quarter valued at about $10,930,000. Convergence Investment Partners LLC bought a new position in Kyndryl during the 2nd quarter valued at about $2,625,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Kyndryl by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,277,559 shares of the company’s stock valued at $179,515,000 after acquiring an additional 203,986 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $26.69, for a total value of $177,248.29. Following the completion of the sale, the senior vice president directly owned 59,708 shares of the company’s stock, valued at $1,593,606.52. This represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Kyndryl Price Performance

NYSE KD opened at $27.34 on Tuesday. The business’s fifty day moving average is $26.20 and its 200 day moving average is $30.70. Kyndryl Holdings, Inc. has a fifty-two week low of $23.28 and a fifty-two week high of $44.20. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $6.25 billion, a PE ratio of 16.17 and a beta of 1.85.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Susquehanna set a $35.00 price objective on shares of Kyndryl in a report on Thursday, November 6th. Morgan Stanley assumed coverage on shares of Kyndryl in a research note on Friday, September 26th. They set an “equal weight” rating and a $30.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Guggenheim raised Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Kyndryl currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Kyndryl Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.