Brighton Jones LLC Acquires Shares of 20,355 Kyndryl Holdings, Inc. $KD

Brighton Jones LLC bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the third quarter, HoldingsChannel reports. The institutional investor bought 20,355 shares of the company’s stock, valued at approximately $611,000.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Kyndryl by 5.0% during the second quarter. Geode Capital Management LLC now owns 4,277,559 shares of the company’s stock worth $179,515,000 after purchasing an additional 203,986 shares during the period. GMT Capital Corp increased its holdings in Kyndryl by 24.2% in the 1st quarter. GMT Capital Corp now owns 3,691,860 shares of the company’s stock valued at $115,924,000 after buying an additional 718,300 shares during the period. Bank of America Corp DE raised its position in shares of Kyndryl by 39.5% in the 2nd quarter. Bank of America Corp DE now owns 1,767,574 shares of the company’s stock valued at $74,167,000 after buying an additional 500,309 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Kyndryl by 5.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,265,000 shares of the company’s stock worth $39,721,000 after acquiring an additional 65,000 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of Kyndryl by 0.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,079,253 shares of the company’s stock worth $45,285,000 after acquiring an additional 7,007 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $26.69, for a total value of $177,248.29. Following the transaction, the senior vice president owned 59,708 shares in the company, valued at approximately $1,593,606.52. The trade was a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Kyndryl in a research note on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Guggenheim upgraded Kyndryl to a “strong-buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Kyndryl in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Susquehanna set a $35.00 target price on Kyndryl in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Kyndryl Stock Up 0.5%

Shares of KD opened at $27.26 on Friday. The stock’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $31.96. Kyndryl Holdings, Inc. has a 12 month low of $23.28 and a 12 month high of $44.20. The company has a market capitalization of $6.23 billion, a PE ratio of 16.13 and a beta of 1.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.24.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. On average, analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

Kyndryl Profile

Kyndryl (NYSE: KD) is a global managed infrastructure services provider formed in November 2021 through the spin-off of IBM’s Managed Infrastructure Services business. The company designs, builds, manages and modernizes critical information technology systems for enterprises worldwide. Kyndryl’s core offerings include cloud migration and management, network and edge computing solutions, digital workplace services and IT resiliency and security capabilities.

With a workforce of approximately 90,000 professionals and operations in more than 60 countries, Kyndryl serves clients across a broad range of industries, including financial services, telecommunications, healthcare, manufacturing and retail.