Vineet Khurana Sells 30,430 Shares of Kyndryl Holdings, Inc. (NYSE:KD) Stock

Kyndryl Holdings, Inc. (NYSE:KDGet Free Report) SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total transaction of $802,134.80. Following the completion of the sale, the senior vice president now owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kyndryl Stock Down 0.7 %

KD stock opened at $26.50 on Friday. The stock has a market capitalization of $6.11 billion, a P/E ratio of -17.79, a price-to-earnings-growth ratio of 5.99 and a beta of 1.70. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The firm has a 50-day moving average price of $23.48 and a 200-day moving average price of $21.56. Kyndryl Holdings, Inc. has a 12 month low of $11.92 and a 12 month high of $28.60.

Kyndryl (NYSE:KDGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue was down 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Kyndryl

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Kyndryl during the first quarter valued at about $26,000. ORG Partners LLC raised its holdings in Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after buying an additional 1,220 shares during the last quarter. Fortis Group Advisors LLC boosted its position in Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after buying an additional 800 shares during the period. Atlas Capital Advisors LLC bought a new stake in Kyndryl during the 1st quarter worth approximately $33,000. Finally, Raleigh Capital Management Inc. increased its position in Kyndryl by 100.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after acquiring an additional 1,517 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KD. Susquehanna raised their price objective on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, May 9th. Scotiabank raised their price target on Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $28.50.

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Kyndryl Company 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 zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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