Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 63.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,582 shares of the company's stock after selling 34,321 shares during the quarter. SG Americas Securities LLC's holdings in Kyndryl were worth $450,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kyndryl during the 2nd quarter worth approximately $39,000. Northwestern Mutual Wealth Management Co. increased its position in Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock worth $44,000 after buying an additional 422 shares in the last quarter. Creative Planning raised its holdings in shares of Kyndryl by 11.2% in the second quarter. Creative Planning now owns 41,615 shares of the company's stock worth $1,095,000 after acquiring an additional 4,192 shares during the last quarter. Algert Global LLC raised its holdings in shares of Kyndryl by 52.6% in the second quarter. Algert Global LLC now owns 151,167 shares of the company's stock worth $3,977,000 after acquiring an additional 52,077 shares during the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Kyndryl in the second quarter valued at $480,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer initiated coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an "outperform" rating and a $33.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl currently has an average rating of "Buy" and an average price target of $29.40.

Kyndryl Trading Down 0.0 %

NYSE KD traded down $0.01 during trading hours on Thursday, hitting $25.02. 1,058,737 shares of the company's stock were exchanged, compared to its average volume of 1,657,189. The business's 50 day moving average is $23.40 and its 200-day moving average is $24.21. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03. Kyndryl Holdings, Inc. has a 12-month low of $13.87 and a 12-month high of $28.60. The firm has a market capitalization of $5.77 billion, a P/E ratio of -16.80, a price-to-earnings-growth ratio of 5.42 and a beta of 1.63.

Kyndryl (NYSE:KD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. As a group, analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Kyndryl Company Profile

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.