Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,131 shares of the company’s stock after selling 17,700 shares during the period. Gamco Investors INC. ET AL’s holdings in Kyndryl were worth $5,203,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Twin Capital Management Inc. purchased a new position in shares of Kyndryl in the 1st quarter valued at approximately $1,016,000. Edgestream Partners L.P. boosted its stake in shares of Kyndryl by 189.6% in the first quarter. Edgestream Partners L.P. now owns 207,017 shares of the company’s stock valued at $4,505,000 after buying an additional 135,542 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Kyndryl in the first quarter valued at approximately $26,000. Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.3% in the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after buying an additional 81,826 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Kyndryl by 22.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 104,216 shares of the company’s stock valued at $2,246,000 after buying an additional 19,156 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the sale, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KD has been the topic of a number of analyst reports. Scotiabank lifted their price target on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Monday, May 13th. Susquehanna lifted their price target on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. Finally, Oppenheimer initiated coverage on Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $29.40.

Kyndryl Price Performance

KD traded up $0.32 during trading on Friday, reaching $26.95. 1,346,776 shares of the stock were exchanged, compared to its average volume of 1,505,258. The business’s 50 day moving average price is $26.47 and its two-hundred day moving average price is $23.33. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -18.09, a P/E/G ratio of 5.40 and a beta of 1.67. Kyndryl Holdings, Inc. has a 1 year low of $11.92 and a 1 year high of $28.60.

Kyndryl (NYSE:KD) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. Kyndryl had a negative return on equity of 4.11% and a negative net margin of 2.12%. Kyndryl’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 1 earnings per share for the current year.

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.