Cresset Asset Management LLC Sells 4,048 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Cresset Asset Management LLC reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,829 shares of the company’s stock after selling 4,048 shares during the period. Cresset Asset Management LLC’s holdings in Kyndryl were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KD. Barclays PLC boosted its stake in shares of Kyndryl by 49.2% during the 3rd quarter. Barclays PLC now owns 255,958 shares of the company’s stock worth $5,882,000 after buying an additional 84,347 shares during the last quarter. Franklin Resources Inc. raised its holdings in Kyndryl by 15.1% during the third quarter. Franklin Resources Inc. now owns 90,068 shares of the company’s stock worth $2,237,000 after acquiring an additional 11,786 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Kyndryl during the fourth quarter valued at approximately $255,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Kyndryl by 983.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,109 shares of the company’s stock valued at $108,000 after purchasing an additional 2,822 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Kyndryl in the fourth quarter valued at approximately $327,000. 71.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KD shares. Oppenheimer upped their price objective on Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. Susquehanna cut their price target on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd.

Kyndryl Price Performance

NYSE:KD opened at $40.44 on Friday. Kyndryl Holdings, Inc. has a 12-month low of $21.34 and a 12-month high of $43.61. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 73.52, a P/E/G ratio of 10.84 and a beta of 1.91. The stock’s 50 day moving average price is $32.93 and its two-hundred day moving average price is $34.53. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

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