Parallel Advisors LLC Purchases 896 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Parallel Advisors LLC lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 55.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,500 shares of the company’s stock after buying an additional 896 shares during the quarter. Parallel Advisors LLC’s holdings in Kyndryl were worth $28,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Kyndryl in the fourth quarter worth approximately $40,000. AdvisorNet Financial Inc lifted its stake in shares of Kyndryl by 67.9% in the fourth quarter. AdvisorNet Financial Inc now owns 4,639 shares of the company’s stock worth $52,000 after acquiring an additional 1,876 shares during the period. Ronald Blue Trust Inc. lifted its stake in shares of Kyndryl by 218.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 6,270 shares of the company’s stock worth $52,000 after acquiring an additional 4,303 shares during the period. Geneos Wealth Management Inc. acquired a new position in Kyndryl in the first quarter valued at approximately $61,000. Finally, Baldwin Brothers LLC MA lifted its stake in Kyndryl by 4,572.3% in the fourth quarter. Baldwin Brothers LLC MA now owns 5,560 shares of the company’s stock valued at $62,000 after buying an additional 5,441 shares during the period. 62.96% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

Shares of NYSE:KD opened at $14.37 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.60. Kyndryl Holdings, Inc. has a twelve month low of $7.93 and a twelve month high of $17.21. The stock’s 50 day moving average is $14.52 and its 200-day moving average is $12.79. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -3.74 and a beta of 1.54.

Kyndryl (NYSE:KD – Get Rating) last issued its earnings results on Tuesday, February 7th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.10. Kyndryl had a negative return on equity of 25.39% and a negative net margin of 5.03%. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm earned ($3.30) earnings per share. Kyndryl’s revenue for the quarter was down 5.6% on a year-over-year basis. Sell-side analysts forecast that Kyndryl Holdings, Inc. will post -4.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Scotiabank assumed coverage on Kyndryl in a research note on Thursday, April 20th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Susquehanna assumed coverage on Kyndryl in a research note on Thursday, January 12th. They issued a “neutral” rating and a $14.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Kyndryl from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th.

Kyndryl Profile

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Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.