Handelsinvest Investeringsforvaltning Trims Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Handelsinvest Investeringsforvaltning trimmed its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 34.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,160 shares of the company’s stock after selling 4,755 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Kyndryl were worth $199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KD. Deutsche Bank AG grew its stake in Kyndryl by 1,266.6% in the third quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock worth $73,468,000 after purchasing an additional 4,509,381 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Kyndryl in the fourth quarter worth approximately $28,992,000. American Century Companies Inc. grew its stake in Kyndryl by 510.3% in the third quarter. American Century Companies Inc. now owns 440,015 shares of the company’s stock worth $6,644,000 after purchasing an additional 367,912 shares in the last quarter. Norges Bank bought a new position in Kyndryl in the fourth quarter worth approximately $54,283,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in Kyndryl in the fourth quarter worth approximately $940,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KD has been the topic of several research analyst reports. Oppenheimer initiated coverage on Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective on the stock. Scotiabank increased 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. Finally, Susquehanna increased their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Kyndryl has an average rating of “Buy” and a consensus price target of $29.40.

Kyndryl Stock Performance

Shares of NYSE KD opened at $26.64 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. Kyndryl Holdings, Inc. has a 12-month low of $11.92 and a 12-month high of $28.60. The stock’s fifty day simple moving average is $25.36 and its two-hundred day simple moving average is $22.58.

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

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 30,430 shares of the firm’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 owns 78,722 shares of the company’s stock, valued at approximately $2,075,111.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.04% of the company’s stock.

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.