Vanguard Group Inc. Has $536.77 Million Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Vanguard Group Inc. decreased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 25,831,208 shares of the company’s stock after selling 207,520 shares during the period. Vanguard Group Inc. owned 11.23% of Kyndryl worth $536,773,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Kyndryl by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,666,365 shares of the company’s stock valued at $200,873,000 after purchasing an additional 190,062 shares during the period. Greenlight Capital Inc. boosted its stake in Kyndryl by 13.7% during the 4th quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after purchasing an additional 767,943 shares during the period. Deutsche Bank AG boosted its stake in Kyndryl by 1,266.6% during the 3rd quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock valued at $73,468,000 after purchasing an additional 4,509,381 shares during the period. Norges Bank bought a new stake in Kyndryl during the 4th quarter valued at approximately $54,283,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Kyndryl by 1.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,068,425 shares of the company’s stock valued at $31,233,000 after purchasing an additional 20,550 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 30,430 shares of the firm’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 completion of the transaction, the senior vice president now owns 78,722 shares in the company, valued at approximately $2,075,111.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on KD. Susquehanna raised their price objective on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. Scotiabank raised their price objective on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $28.50.

Kyndryl Price Performance

Shares of KD stock opened at $25.47 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $5.87 billion, a P/E ratio of -17.09, a P/E/G ratio of 5.88 and a beta of 1.70. Kyndryl Holdings, Inc. has a 12 month low of $11.92 and a 12 month high of $28.60. The stock has a 50 day moving average of $24.48 and a two-hundred day moving average of $22.23.

Kyndryl (NYSE:KD) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.11. The business had revenue of $3.85 billion during 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 revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. As a group, equities analysts expect that Kyndryl Holdings, Inc. will post 0.87 EPS for the current year.

Kyndryl Company 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.