Raymond James & Associates Sells 36,159 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Raymond James & Associates trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD) by 40.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,390 shares of the company’s stock after selling 36,159 shares during the period. Raymond James & Associates’ holdings in Kyndryl were worth $1,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KD. Goldman Sachs Group Inc. boosted its stake in Kyndryl by 3,628.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock valued at $170,048,000 after purchasing an additional 16,920,997 shares during the last quarter. Deutsche Bank AG boosted its stake in Kyndryl by 1,266.6% during the 3rd quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock valued at $73,468,000 after purchasing an additional 4,509,381 shares during the last quarter. Norges Bank acquired a new position in Kyndryl during the 4th quarter valued at about $26,154,000. BlackRock Inc. boosted its stake in Kyndryl by 12.6% during the 3rd quarter. BlackRock Inc. now owns 18,909,290 shares of the company’s stock valued at $156,379,000 after purchasing an additional 2,123,293 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Kyndryl by 58.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,910,549 shares of the company’s stock valued at $40,658,000 after purchasing an additional 1,818,983 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Trading Up 0.1 %

Shares of KD stock opened at $19.66 on Friday. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -4.34, a PEG ratio of 5.53 and a beta of 1.54. Kyndryl Holdings, Inc. has a 1 year low of $11.35 and a 1 year high of $22.90. The company’s fifty day simple moving average is $21.49 and its two-hundred day simple moving average is $19.42. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.94 and a quick ratio of 0.94.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. Kyndryl had a negative return on equity of 7.39% and a negative net margin of 6.27%. As a group, analysts anticipate that Kyndryl Holdings, Inc. will post -0.57 earnings per share for the current year.

Analysts Set New Price Targets

KD has been the subject of a number of analyst reports. Susquehanna upgraded Kyndryl from a “neutral” rating to a “positive” rating and lifted their price target for the company from $19.00 to $27.00 in a research note on Monday, February 12th. Evercore ISI upgraded Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Monday, January 8th.

About Kyndryl

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.