Kyndryl Holdings, Inc. (NYSE:KD) Shares Bought by Fulton Bank N.A.

Fulton Bank N.A. grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 52.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,456 shares of the company’s stock after acquiring an additional 5,990 shares during the period. Fulton Bank N.A.’s holdings in Kyndryl were worth $380,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pathstone Family Office LLC acquired a new position in shares of Kyndryl during the 3rd quarter worth $223,000. Rhumbline Advisers raised its position in Kyndryl by 6.7% during the third quarter. Rhumbline Advisers now owns 703,921 shares of the company’s stock worth $10,629,000 after acquiring an additional 44,372 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Kyndryl by 31.2% in the third quarter. Invesco Ltd. now owns 1,817,569 shares of the company’s stock valued at $27,445,000 after purchasing an additional 431,990 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Kyndryl by 70.8% in the third quarter. Hsbc Holdings PLC now owns 129,148 shares of the company’s stock valued at $1,949,000 after purchasing an additional 53,516 shares during the last quarter. Finally, Mariner LLC increased its stake in shares of Kyndryl by 27.0% during the 3rd quarter. Mariner LLC now owns 32,516 shares of the company’s stock worth $491,000 after purchasing an additional 6,916 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of 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 legal filing with the SEC, which is available through the SEC website. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Susquehanna upped their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research note on Thursday, May 9th. Scotiabank upped 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. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyndryl presently has an average rating of “Buy” and an average target price of $28.50.

Kyndryl Stock Performance

Shares of NYSE KD opened at $25.51 on Friday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. Kyndryl Holdings, Inc. has a 1 year low of $11.92 and a 1 year high of $28.60. The firm’s 50 day moving average price is $24.37 and its 200 day moving average price is $22.13.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating 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 business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. Equities analysts forecast that Kyndryl Holdings, Inc. will post 0.87 EPS for the current fiscal year.

Kyndryl Profile

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.