Arnhold LLC Cuts Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Arnhold LLC reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055,667 shares of the company’s stock after selling 151,696 shares during the period. Kyndryl accounts for approximately 2.5% of Arnhold LLC’s portfolio, making the stock its 10th biggest holding. Arnhold LLC owned 0.46% of Kyndryl worth $21,937,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Raleigh Capital Management Inc. grew its position in shares of Kyndryl by 100.3% in the third quarter. Raleigh Capital Management Inc. now owns 3,030 shares of the company’s stock valued at $46,000 after purchasing an additional 1,517 shares during the last quarter. Huntington National Bank grew its position in shares of Kyndryl by 32.9% in the third quarter. Huntington National Bank now owns 3,714 shares of the company’s stock valued at $56,000 after purchasing an additional 919 shares during the last quarter. Systematic Alpha Investments LLC acquired a new stake in shares of Kyndryl in the third quarter valued at about $73,000. RIA Advisory Group LLC acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $138,000. Finally, Cerity Partners LLC acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $206,000. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

KD traded down $0.18 during midday trading on Tuesday, reaching $19.66. 1,773,109 shares of the company’s stock were exchanged, compared to its average volume of 1,535,737. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 5.49 and a beta of 1.55. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.03. Kyndryl Holdings, Inc. has a one year low of $11.35 and a one year high of $22.90. The business has a 50-day simple moving average of $21.34 and a two-hundred day simple moving average of $19.68.

Kyndryl (NYSE:KD) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14). The business had revenue of $3.94 billion for 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, research analysts predict that Kyndryl Holdings, Inc. will post -0.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KD shares. Evercore ISI raised Kyndryl from an “in-line” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Monday, January 8th. Susquehanna raised Kyndryl from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $19.00 to $27.00 in a research report on Monday, February 12th.

Kyndryl 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.