Sky Investment Group LLC Purchases 27,880 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Sky Investment Group LLC lifted its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 54.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 79,095 shares of the company’s stock after buying an additional 27,880 shares during the period. Sky Investment Group LLC’s holdings in Kyndryl were worth $1,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Kyndryl by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after acquiring an additional 81,826 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after buying an additional 675,800 shares during the period. Zimmer Partners LP lifted its position in shares of Kyndryl by 1.3% during the 1st quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after buying an additional 32,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Kyndryl by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock valued at $55,321,000 after acquiring an additional 158,160 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Kyndryl by 3.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,053,758 shares of the company’s stock valued at $44,690,000 after acquiring an additional 73,580 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

Shares of NYSE KD traded down $0.03 during mid-day trading on Tuesday, reaching $24.38. The company’s stock had a trading volume of 203,826 shares, compared to its average volume of 1,643,859. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl Holdings, Inc. has a 52 week low of $13.87 and a 52 week high of $28.60. The stock has a fifty day moving average of $23.55 and a two-hundred day moving average of $24.30. The firm has a market capitalization of $5.62 billion, a PE ratio of -16.39, a P/E/G ratio of 5.42 and a beta of 1.63.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer started coverage on shares of Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl has a consensus rating of “Buy” and an average target price of $29.40.

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.