Oak Thistle LLC Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

Oak Thistle LLC purchased a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,412 shares of the company’s stock, valued at approximately $401,000.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in Kyndryl by 70.8% in the 3rd quarter. Hsbc Holdings PLC now owns 129,148 shares of the company’s stock valued at $1,949,000 after acquiring an additional 53,516 shares in the last quarter. Mariner LLC lifted its holdings in shares of Kyndryl by 27.0% during the third quarter. Mariner LLC now owns 32,516 shares of the company’s stock valued at $491,000 after purchasing an additional 6,916 shares in the last quarter. Northern Trust Corp lifted its holdings 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 purchasing an additional 232,228 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Kyndryl by 2.9% during the third quarter. Natixis Advisors L.P. now owns 44,025 shares of the company’s stock valued at $665,000 after buying an additional 1,222 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Kyndryl by 11.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 99,723 shares of the company’s stock worth $1,506,000 after buying an additional 10,130 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 1.7 %

KD opened at $26.75 on Tuesday. The company’s 50 day moving average is $25.11 and its 200 day moving average is $22.50. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl Holdings, Inc. has a 12-month low of $11.92 and a 12-month high of $28.60.

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

Analyst Ratings Changes

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

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 30,430 shares of the company’s 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 sale, the senior vice president now directly owns 78,722 shares in the company, valued at approximately $2,075,111.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by company insiders.

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.