Jacobs Levy Equity Management Inc. Has $44.69 Million Position in Kyndryl Holdings, Inc. (NYSE:KD)

Jacobs Levy Equity Management Inc. raised its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,053,758 shares of the company’s stock after buying an additional 73,580 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.89% of Kyndryl worth $44,690,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Kyndryl in the 1st quarter valued at approximately $26,000. ORG Partners LLC grew its position in shares of Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after purchasing an additional 1,220 shares during the period. Fortis Group Advisors LLC grew its position in shares of Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Kyndryl in the 1st quarter valued at approximately $33,000. Finally, Pingora Partners LLC acquired a new position in shares of Kyndryl in the 4th quarter valued at approximately $50,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction that occurred 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 owns 78,722 shares in the company, valued at approximately $2,075,111.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

Kyndryl Stock Down 2.3 %

NYSE:KD traded down $0.62 during trading hours on Tuesday, reaching $26.74. 1,415,962 shares of the stock were exchanged, compared to its average volume of 1,688,478. Kyndryl Holdings, Inc. has a twelve month low of $11.92 and a twelve month high of $28.60. 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 firm has a 50 day moving average of $26.46 and a 200 day moving average of $23.41. The stock has a market cap of $6.16 billion, a PE ratio of -18.37, a PEG ratio of 5.40 and a beta of 1.68.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Susquehanna boosted their price objective on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Scotiabank boosted their price objective on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Monday, May 13th. Finally, Oppenheimer initiated coverage on Kyndryl in a research report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl has an average rating of “Buy” and a consensus target price of $29.40.

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.