PNC Financial Services Group Inc. Has $530,000 Stake in Kyndryl Holdings, Inc. (NYSE:KD)

PNC Financial Services Group Inc. cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 27.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,496 shares of the company’s stock after selling 9,722 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kyndryl were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in Kyndryl by 31.2% during the third quarter. Invesco Ltd. now owns 1,817,569 shares of the company’s stock worth $27,445,000 after purchasing an additional 431,990 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Kyndryl by 70.8% in the 3rd quarter. Hsbc Holdings PLC now owns 129,148 shares of the company’s stock worth $1,949,000 after buying an additional 53,516 shares during the last quarter. Mariner LLC grew its holdings in shares of Kyndryl by 27.0% in the third quarter. Mariner LLC now owns 32,516 shares of the company’s stock valued at $491,000 after acquiring an additional 6,916 shares in the last quarter. Northern Trust Corp increased its position in shares of Kyndryl by 13.2% during the third quarter. Northern Trust Corp now owns 1,990,763 shares of the company’s stock valued at $30,061,000 after acquiring an additional 232,228 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in Kyndryl by 2.9% during the third quarter. Natixis Advisors L.P. now owns 44,025 shares of the company’s stock worth $665,000 after acquiring an additional 1,222 shares during the period. Institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling at Kyndryl

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

Kyndryl Trading Up 3.0 %

Shares of Kyndryl stock opened at $26.04 on Friday. The stock has a market capitalization of $6.00 billion, a P/E ratio of -17.48, a P/E/G ratio of 5.87 and a beta of 1.70. Kyndryl Holdings, Inc. has a 52-week low of $11.92 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $24.84 and its 200 day simple moving average is $22.33.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. As a group, research analysts anticipate that Kyndryl Holdings, Inc. will post 0.87 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.