Allspring Global Investments Holdings LLC Decreases Position in Kyndryl Holdings, Inc. (NYSE:KD)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,991,363 shares of the company’s stock after selling 280,879 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.30% of Kyndryl worth $78,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Simplicity Wealth LLC boosted its holdings in shares of Kyndryl by 3.0% during the second quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock worth $414,000 after purchasing an additional 454 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Kyndryl by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock worth $1,513,000 after buying an additional 563 shares during the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of Kyndryl by 0.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock valued at $2,074,000 after buying an additional 730 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Kyndryl by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock valued at $3,095,000 after acquiring an additional 790 shares in the last quarter. Finally, Fortis Group Advisors LLC lifted its stake in Kyndryl by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the period. Institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

KD has been the subject of several research reports. Oppenheimer assumed coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective for the company. Scotiabank lifted their price objective on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Monday, May 13th. Finally, Susquehanna increased their target price on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $29.40.

Kyndryl Stock Performance

Kyndryl stock traded down $0.05 during trading on Tuesday, reaching $23.85. The company had a trading volume of 41,954 shares, compared to its average volume of 1,715,554. The firm’s 50-day simple moving average is $25.24 and its 200 day simple moving average is $23.77. Kyndryl Holdings, Inc. has a 52 week low of $13.87 and a 52 week high of $28.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -16.05, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67.

Kyndryl (NYSE:KD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative return on equity of 3.23% and a negative net margin of 1.21%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. Sell-side analysts forecast that Kyndryl Holdings, Inc. will post 1 earnings per share for the current fiscal year.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the sale, the senior vice president now owns 78,722 shares in the company, valued at approximately $2,075,111.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

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.