Sterneck Capital Management LLC Sells 2,777 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Sterneck Capital Management LLC lessened its position in Kyndryl Holdings, Inc. (NYSE:KD) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,820 shares of the company’s stock after selling 2,777 shares during the period. Sterneck Capital Management LLC’s holdings in Kyndryl were worth $591,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of Kyndryl by 9.4% during the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company’s stock valued at $99,000 after purchasing an additional 247 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after purchasing an additional 297 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company’s stock valued at $1,775,000 after purchasing an additional 332 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Kyndryl by 19.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company’s stock valued at $78,000 after purchasing an additional 370 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Kyndryl by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock valued at $2,232,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KD. Susquehanna cut their target price on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Kyndryl from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Finally, Oppenheimer lifted their target price on shares of Kyndryl from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, May 13th.

Kyndryl Trading Down 1.0%

Shares of NYSE KD opened at $39.05 on Friday. Kyndryl Holdings, Inc. has a 1 year low of $21.34 and a 1 year high of $43.61. The stock has a market cap of $9.09 billion, a P/E ratio of 71.00, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The firm has a 50-day moving average of $33.85 and a 200 day moving average of $35.48. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company posted ($0.01) EPS. Kyndryl’s revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

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.