Cortland Associates Inc. MO Purchases 8,017 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Cortland Associates Inc. MO increased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 0.4% during the first quarter, Holdings Channel reports. The fund owned 2,131,738 shares of the company’s stock after acquiring an additional 8,017 shares during the quarter. Kyndryl makes up approximately 8.0% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 2nd biggest position. Cortland Associates Inc. MO’s holdings in Kyndryl were worth $66,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KD. Opal Wealth Advisors LLC purchased a new position in Kyndryl during the first quarter worth approximately $27,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Kyndryl during the fourth quarter worth approximately $30,000. True Wealth Design LLC raised its stake in Kyndryl by 150.6% during the fourth quarter. True Wealth Design LLC now owns 872 shares of the company’s stock worth $30,000 after purchasing an additional 524 shares during the period. Private Trust Co. NA raised its stake in Kyndryl by 107.9% during the first quarter. Private Trust Co. NA now owns 1,021 shares of the company’s stock worth $32,000 after purchasing an additional 530 shares during the period. Finally, Versant Capital Management Inc raised its stake in Kyndryl by 1,143.0% during the first quarter. Versant Capital Management Inc now owns 1,069 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president owned 73,278 shares of the company’s stock, valued at $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Susquehanna cut their price target 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. Oppenheimer increased their price target on shares of Kyndryl from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Kyndryl from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

Kyndryl Stock Performance

Shares of KD stock opened at $39.80 on Friday. The company’s fifty day simple moving average is $39.93 and its 200-day simple moving average is $37.00. Kyndryl Holdings, Inc. has a 52 week low of $21.34 and a 52 week high of $44.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. The company has a market cap of $9.21 billion, a PE ratio of 38.64, a P/E/G ratio of 0.93 and a beta of 1.93.

Kyndryl (NYSE:KD) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Kyndryl 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.