Cortland Associates Inc. MO Has $63.22 Million Stock Position in Kyndryl Holdings, Inc. $KD

Cortland Associates Inc. MO raised its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,105,082 shares of the company’s stock after buying an additional 592,751 shares during the period. Kyndryl comprises 7.5% of Cortland Associates Inc. MO’s holdings, making the stock its 2nd biggest holding. Cortland Associates Inc. MO owned about 0.91% of Kyndryl worth $63,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. ST Germain D J Co. Inc. raised its stake in shares of Kyndryl by 135.2% during the second quarter. ST Germain D J Co. Inc. now owns 668 shares of the company’s stock valued at $28,000 after acquiring an additional 384 shares in the last quarter. Compass Financial Services Inc bought a new stake in Kyndryl during the 1st quarter valued at $30,000. Assetmark Inc. raised its position in Kyndryl by 75.3% during the 2nd quarter. Assetmark Inc. now owns 775 shares of the company’s stock valued at $33,000 after purchasing an additional 333 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Kyndryl by 103.0% in the 3rd quarter. True Wealth Design LLC now owns 1,547 shares of the company’s stock worth $46,000 after buying an additional 785 shares during the period. Finally, Employees Retirement System of Texas bought a new position in shares of Kyndryl during the 2nd quarter worth $49,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 6,641 shares of Kyndryl stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $26.69, for a total value of $177,248.29. Following the sale, the senior vice president directly owned 59,708 shares of the company’s stock, valued at $1,593,606.52. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Kyndryl Price Performance

Shares of NYSE KD opened at $27.25 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $26.26 and a 200 day moving average of $31.03. The firm has a market cap of $6.23 billion, a PE ratio of 16.12 and a beta of 1.85. Kyndryl Holdings, Inc. has a one year low of $23.28 and a one year high of $44.20.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Guggenheim raised shares of Kyndryl to a “strong-buy” rating in a research note on Wednesday, November 26th. Morgan Stanley assumed coverage on shares of Kyndryl in a research note on Friday, September 26th. They issued an “equal weight” rating and a $30.00 target price for the company. Susquehanna set a $35.00 price target on shares of Kyndryl in a research report on Thursday, November 6th. Finally, Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kyndryl currently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.