Kyndryl Holdings, Inc. $KD Stake Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 205.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,648 shares of the company’s stock after acquiring an additional 53,556 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kyndryl were worth $2,391,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Cortland Associates Inc. MO boosted its holdings in shares of Kyndryl by 39.2% during the third quarter. Cortland Associates Inc. MO now owns 2,105,082 shares of the company’s stock worth $63,216,000 after purchasing an additional 592,751 shares during the period. Bank of America Corp DE lifted its position in Kyndryl by 39.5% in the 2nd quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock worth $74,167,000 after buying an additional 500,309 shares in the last quarter. Norges Bank acquired a new stake in shares of Kyndryl during the 2nd quarter valued at $19,907,000. Frontier Capital Management Co. LLC purchased a new position in shares of Kyndryl during the 2nd quarter valued at $19,586,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Kyndryl in the second quarter worth $10,930,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Morgan Stanley assumed coverage on Kyndryl in a research note on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. Finally, Susquehanna set a $35.00 target price 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.00.

Kyndryl Price Performance

NYSE:KD opened at $27.06 on Wednesday. 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 firm has a market cap of $6.19 billion, a PE ratio of 16.01 and a beta of 1.85. Kyndryl Holdings, Inc. has a 12 month low of $23.28 and a 12 month high of $44.20. The company’s 50-day moving average price is $26.20 and its two-hundred day moving average price is $30.60.

Kyndryl (NYSE:KD) last posted its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Kyndryl had a net margin of 2.71% and a return on equity of 25.76%. Kyndryl’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

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.