Alpha Omega Wealth Management LLC Trims Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Alpha Omega Wealth Management LLC cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,336 shares of the company’s stock after selling 3,986 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Kyndryl were worth $1,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KD. Vanguard Group Inc. raised its holdings in Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after purchasing an additional 81,826 shares during the period. Greenlight Capital Inc. raised its stake in shares of Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock worth $132,079,000 after buying an additional 767,943 shares during the period. Renaissance Technologies LLC lifted its position in shares of Kyndryl by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after buying an additional 675,800 shares in the last quarter. Zimmer Partners LP grew its stake in shares of Kyndryl by 1.3% during the 1st quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after acquiring an additional 32,000 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Kyndryl by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock worth $55,321,000 after acquiring an additional 158,160 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

NYSE KD opened at $23.11 on Friday. The business has a 50-day moving average price of $23.44 and a 200-day moving average price of $24.03. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -15.51, a price-to-earnings-growth ratio of 5.32 and a beta of 1.63. Kyndryl Holdings, Inc. has a twelve month low of $13.87 and a twelve month high of $28.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. As a group, equities research analysts predict that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer assumed coverage on shares of Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $29.40.

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.