Zimmer Partners LP Has $77.77 Million Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Zimmer Partners LP lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 17.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,247,641 shares of the company’s stock after selling 476,254 shares during the quarter. Kyndryl accounts for 1.3% of Zimmer Partners LP’s holdings, making the stock its 22nd biggest position. Zimmer Partners LP owned approximately 0.97% of Kyndryl worth $77,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company’s stock worth $30,000 after purchasing an additional 524 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Kyndryl during the 4th quarter worth approximately $30,000. Millstone Evans Group LLC bought a new stake in shares of Kyndryl during the 4th quarter worth approximately $35,000. Picton Mahoney Asset Management bought a new stake in shares of Kyndryl during the 4th quarter worth approximately $38,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Down 1.3%

KD opened at $39.95 on Tuesday. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The stock’s fifty day simple moving average is $33.05 and its 200 day simple moving average is $34.73. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a market cap of $9.30 billion, a PE ratio of 72.64, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91.

Kyndryl (NYSE:KD) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Kyndryl had a return on equity of 7.22% and a net margin of 0.91%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, research analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

KD has been the topic of a number of analyst reports. Oppenheimer upped their price objective on Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 13th. Susquehanna dropped their price target on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd.

About Kyndryl

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.