Douglas Lane & Associates LLC Has $23.41 Million Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Douglas Lane & Associates LLC reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,018,595 shares of the company’s stock after selling 58,672 shares during the period. Douglas Lane & Associates LLC owned approximately 0.44% of Kyndryl worth $23,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Kyndryl in the 1st quarter valued at about $26,000. ORG Partners LLC grew its holdings in shares of Kyndryl by 622.4% in the first quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after acquiring an additional 1,220 shares in the last quarter. Fortis Group Advisors LLC grew its holdings in Kyndryl by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of Kyndryl during the first quarter worth $33,000. Finally, UMB Bank n.a. lifted its position in shares of Kyndryl by 44.2% during the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after acquiring an additional 462 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

NYSE:KD traded up $0.21 during trading hours on Friday, reaching $24.79. 1,111,302 shares of the company’s stock were exchanged, compared to its average volume of 1,670,238. Kyndryl Holdings, Inc. has a 1-year low of $13.87 and a 1-year high of $28.60. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -30.23, a P/E/G ratio of 5.42 and a beta of 1.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82. The company has a 50-day moving average of $23.24 and a 200 day moving average of $24.14.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Research analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Oppenheimer assumed coverage on Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl has a consensus rating of “Buy” and a consensus price target of $29.40.

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.