Kyndryl Holdings, Inc. $KD Shares Acquired by Sky Investment Group LLC

Sky Investment Group LLC increased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,980 shares of the company’s stock after purchasing an additional 19,260 shares during the quarter. Sky Investment Group LLC owned 0.05% of Kyndryl worth $3,693,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KD. Geode Capital Management LLC raised its position in Kyndryl by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,277,559 shares of the company’s stock worth $179,515,000 after buying an additional 203,986 shares during the last quarter. GMT Capital Corp increased its stake in shares of Kyndryl by 24.2% in the first quarter. GMT Capital Corp now owns 3,691,860 shares of the company’s stock worth $115,924,000 after acquiring an additional 718,300 shares during the period. Bank of America Corp DE raised its holdings in shares of Kyndryl by 39.5% during the second quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock worth $74,167,000 after purchasing an additional 500,309 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Kyndryl by 5.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,265,000 shares of the company’s stock valued at $39,721,000 after purchasing an additional 65,000 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in Kyndryl by 0.7% in the second quarter. Qube Research & Technologies Ltd now owns 1,079,253 shares of the company’s stock valued at $45,285,000 after purchasing an additional 7,007 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $26.69, for a total value of $177,248.29. Following the completion of the sale, the senior vice president owned 59,708 shares of the company’s stock, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KD shares. JPMorgan Chase & Co. cut their price target on Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Guggenheim raised Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Finally, Susquehanna set a $35.00 price objective on shares of Kyndryl in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Kyndryl presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $27.06 on Friday. The firm has a market cap of $6.18 billion, a PE ratio of 16.01 and a beta of 1.85. Kyndryl Holdings, Inc. has a twelve month low of $23.28 and a twelve month high of $44.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24. The business has a 50-day moving average price of $26.65 and a 200 day moving average price of $32.31.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.Kyndryl’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Kyndryl Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.