Zimmer Partners LP Sells 476,254 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Zimmer Partners LP decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 17.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,247,641 shares of the company’s stock after selling 476,254 shares during the quarter. Kyndryl makes up approximately 1.3% of Zimmer Partners LP’s portfolio, making the stock its 22nd largest position. Zimmer Partners LP’s holdings in Kyndryl were worth $77,768,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KD. Marshall & Sterling Wealth Advisors Inc. bought a new position in Kyndryl during the 4th quarter worth $30,000. True Wealth Design LLC grew its holdings in shares of Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company’s stock worth $30,000 after purchasing an additional 524 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Kyndryl during the 4th quarter worth $35,000. Picton Mahoney Asset Management acquired a new stake in shares of Kyndryl during the 4th quarter worth $38,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KD. Oppenheimer increased their target price on Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Susquehanna reduced their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd.

Kyndryl Stock Down 1.3%

KD stock opened at $39.95 on Tuesday. The stock has a market capitalization of $9.30 billion, a P/E ratio of 72.64, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 12 month low of $21.34 and a 12 month high of $43.61. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $34.73.

Kyndryl (NYSE:KD) last posted its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 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.