Oak Thistle LLC Invests $401,000 in Kyndryl Holdings, Inc. (NYSE:KD)

Oak Thistle LLC acquired a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,412 shares of the company’s stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KD. Deutsche Bank AG increased its stake in Kyndryl by 1,266.6% during the 3rd quarter. Deutsche Bank AG now owns 4,865,411 shares of the company’s stock worth $73,468,000 after buying an additional 4,509,381 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Kyndryl during the 4th quarter valued at about $28,992,000. American Century Companies Inc. grew its position in shares of Kyndryl by 510.3% in the third quarter. American Century Companies Inc. now owns 440,015 shares of the company’s stock valued at $6,644,000 after purchasing an additional 367,912 shares in the last quarter. Norges Bank acquired a new stake in shares of Kyndryl in the fourth quarter valued at approximately $54,283,000. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Kyndryl during the fourth quarter worth approximately $940,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the sale, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Susquehanna upped their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a report on Thursday, May 9th. Scotiabank lifted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 13th. Finally, Oppenheimer began coverage on shares of Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $29.40.

Kyndryl Stock Up 1.7 %

Shares of KD opened at $26.75 on Tuesday. The company’s 50-day moving average price is $25.11 and its 200 day moving average price is $22.50. Kyndryl Holdings, Inc. has a 12-month low of $11.92 and a 12-month high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.76 billion. Kyndryl had a negative net margin of 2.12% and a negative return on equity of 4.11%. The business’s revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. Equities research analysts expect that Kyndryl Holdings, Inc. will post 0.87 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.