Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 33.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 326,435 shares of the company’s stock after selling 162,920 shares during the period. Mediolanum International Funds Ltd owned approximately 0.14% of Kyndryl worth $10,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in Kyndryl by 15.1% in the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company’s stock valued at $12,893,000 after buying an additional 48,809 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $1,619,000. Fox Run Management L.L.C. acquired a new stake in Kyndryl during the fourth quarter worth about $203,000. LPL Financial LLC raised its stake in Kyndryl by 22.4% during the fourth quarter. LPL Financial LLC now owns 99,506 shares of the company’s stock worth $3,443,000 after purchasing an additional 18,198 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock valued at $964,434,000 after purchasing an additional 79,575 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KD shares. Wall Street Zen downgraded shares of Kyndryl from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Susquehanna cut their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer upped their price target on Kyndryl from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th.

Kyndryl Price Performance

Shares of KD opened at $39.10 on Friday. The firm has a 50-day simple moving average of $40.23 and a two-hundred day simple moving average of $37.23. The stock has a market cap of $9.05 billion, a PE ratio of 37.96, a P/E/G ratio of 0.85 and a beta of 1.93. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $44.20. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07.

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

Insider Buying and Selling at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the transaction, the senior vice president owned 73,278 shares of the company’s stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

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.