Harbor Capital Advisors Inc. Decreases Stock Holdings in Kyndryl Holdings, Inc. $KD

Harbor Capital Advisors Inc. reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 70.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,610 shares of the company’s stock after selling 56,683 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Kyndryl were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. grew its holdings in shares of Kyndryl by 10.6% in the 1st quarter. Raymond James Financial Inc. now owns 363,043 shares of the company’s stock worth $11,400,000 after acquiring an additional 34,735 shares during the period. Hsbc Holdings PLC boosted its position in Kyndryl by 29.0% during the first quarter. Hsbc Holdings PLC now owns 38,094 shares of the company’s stock worth $1,190,000 after purchasing an additional 8,559 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Kyndryl in the first quarter valued at $605,000. Magnetar Financial LLC purchased a new position in shares of Kyndryl in the first quarter valued at $943,000. Finally, GMT Capital Corp raised its stake in shares of Kyndryl by 24.2% during the 1st quarter. GMT Capital Corp now owns 3,691,860 shares of the company’s stock worth $115,924,000 after buying an additional 718,300 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kyndryl

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Susquehanna set a $35.00 target price on Kyndryl in a research note on Thursday, November 6th. Finally, Guggenheim upgraded Kyndryl to a “strong-buy” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kyndryl has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Kyndryl Stock Down 0.2%

Shares of NYSE KD opened at $27.21 on Friday. The firm has a market cap of $6.22 billion, a P/E ratio of 16.10 and a beta of 1.85. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.02 and a current ratio of 1.02. Kyndryl Holdings, Inc. has a 1 year low of $23.28 and a 1 year high of $44.20. The firm’s 50 day moving average price is $26.60 and its 200 day moving average price is $31.81.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.84 billion. Kyndryl had a return on equity of 25.76% and a net margin of 2.71%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. As a group, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Kyndryl Company 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.