Kyndryl Holdings, Inc. $KD Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 70.6% during the third quarter, Holdings Channel reports. The firm owned 23,610 shares of the company’s stock after selling 56,683 shares during the period. Harbor Capital Advisors Inc.’s holdings in Kyndryl were worth $709,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in KD. GMT Capital Corp raised its position in shares of Kyndryl by 24.2% in the 1st quarter. GMT Capital Corp now owns 3,691,860 shares of the company’s stock worth $115,924,000 after buying an additional 718,300 shares during the period. Bank of America Corp DE increased its stake in 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 acquiring an additional 500,309 shares during the last quarter. Norges Bank acquired a new stake in Kyndryl during the second quarter worth about $19,907,000. Frontier Capital Management Co. LLC purchased a new position in shares of Kyndryl in the 2nd quarter worth about $19,586,000. Finally, Cinctive Capital Management LP lifted its stake in shares of Kyndryl by 65.9% in the 1st quarter. Cinctive Capital Management LP now owns 786,112 shares of the company’s stock valued at $24,684,000 after purchasing an additional 312,326 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $26.69, for a total transaction of $177,248.29. Following the completion of the sale, the senior vice president owned 59,708 shares in the company, valued at $1,593,606.52. This trade represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Kyndryl Stock Performance

Kyndryl stock opened at $27.21 on Friday. Kyndryl Holdings, Inc. has a 12-month low of $23.28 and a 12-month high of $44.20. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 16.10 and a beta of 1.85. The firm’s fifty day moving average price is $26.60 and its 200 day moving average price is $31.81.

Kyndryl (NYSE:KD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the firm earned $0.01 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KD shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Susquehanna set a $35.00 target price on shares of Kyndryl in a report on Thursday, November 6th. Guggenheim upgraded Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. cut their price objective on Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.