Kyndryl (NYSE:KD) Trading 8.2% Higher

Kyndryl Holdings, Inc. (NYSE:KDGet Rating) traded up 8.2% on Thursday . The stock traded as high as $11.27 and last traded at $11.22. 12,163 shares changed hands during trading, a decline of 99% from the average session volume of 1,854,348 shares. The stock had previously closed at $10.37.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. assumed coverage on shares of Kyndryl in a research report on Tuesday. They set a “neutral” rating and a $12.00 price objective on the stock.

Kyndryl Stock Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s 50-day simple moving average is $10.31 and its two-hundred day simple moving average is $12.39.

Kyndryl (NYSE:KDGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.18) EPS for the quarter. Kyndryl had a negative net margin of 10.70% and a negative return on equity of 42.09%. The company had revenue of $4.43 billion for the quarter. As a group, equities analysts expect that Kyndryl Holdings, Inc. will post -1.18 earnings per share for the current year.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc sold 380,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $12.20, for a total transaction of $4,636,000.00. Following the transaction, the insider now directly owns 22,307,055 shares in the company, valued at approximately $272,146,071. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 380,000 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $12.20, for a total transaction of $4,636,000.00. Following the transaction, the insider now directly owns 22,307,055 shares in the company, valued at approximately $272,146,071. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Martin J. Schroeter acquired 83,700 shares of Kyndryl stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average cost of $11.35 per share, with a total value of $949,995.00. Following the purchase, the chief executive officer now owns 828,040 shares in the company, valued at approximately $9,398,254. The disclosure for this purchase can be found here. Insiders have purchased a total of 133,780 shares of company stock worth $1,498,513 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp lifted its stake in shares of Kyndryl by 2,447.2% in the 2nd quarter. M&T Bank Corp now owns 17,041 shares of the company’s stock valued at $152,000 after purchasing an additional 16,372 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Kyndryl in the 2nd quarter valued at $314,000. Nisa Investment Advisors LLC lifted its stake in shares of Kyndryl by 632.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 106,551 shares of the company’s stock valued at $1,042,000 after purchasing an additional 91,995 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Kyndryl during the 2nd quarter worth $547,000. Finally, AE Wealth Management LLC acquired a new position in Kyndryl during the 2nd quarter worth $230,000. Institutional investors and hedge funds own 44.48% of the company’s stock.

Kyndryl Company Profile

(Get Rating)

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

Read More

Receive News & Ratings for Kyndryl Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kyndryl and related companies with MarketBeat.com's FREE daily email newsletter.