Castleark Management LLC Has $7.01 Million Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Castleark Management LLC trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,550 shares of the company’s stock after selling 135,420 shares during the quarter. Castleark Management LLC’s holdings in Kyndryl were worth $7,008,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dakota Wealth Management acquired a new position in Kyndryl during the fourth quarter worth approximately $1,221,000. Sky Investment Group LLC boosted its stake in shares of Kyndryl by 11.7% during the 4th quarter. Sky Investment Group LLC now owns 88,335 shares of the company’s stock worth $3,056,000 after acquiring an additional 9,240 shares during the period. Mediolanum International Funds Ltd bought a new stake in Kyndryl in the 4th quarter valued at $16,856,000. American Century Companies Inc. raised its stake in Kyndryl by 15.1% in the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company’s stock valued at $12,893,000 after acquiring an additional 48,809 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Kyndryl during the 4th quarter valued at $515,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

NYSE:KD opened at $40.04 on Wednesday. The stock has a 50 day simple moving average of $33.18 and a 200 day simple moving average of $34.77. The stock has a market cap of $9.32 billion, a P/E ratio of 72.80, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. 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 (NYSE:KD) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business earned ($0.01) EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer upped their price objective on shares of Kyndryl from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. Susquehanna reduced their target price on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd.

About Kyndryl

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.