Envestnet Asset Management Inc. Sells 16,868 Shares of Kyndryl Holdings, Inc. $KD

Envestnet Asset Management Inc. decreased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 23.1% in the 2nd quarter, Holdings Channel reports. The fund owned 56,228 shares of the company’s stock after selling 16,868 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kyndryl were worth $2,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KD. GMT Capital Corp lifted its position 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 acquiring an additional 718,300 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Kyndryl by 5.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,265,000 shares of the company’s stock valued at $39,721,000 after purchasing an additional 65,000 shares in the last quarter. Nuveen LLC bought a new stake in shares of Kyndryl in the first quarter valued at about $30,466,000. Cinctive Capital Management LP boosted its position in shares of Kyndryl by 65.9% during the first quarter. Cinctive Capital Management LP now owns 786,112 shares of the company’s stock worth $24,684,000 after buying an additional 312,326 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Kyndryl by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,068 shares of the company’s stock worth $23,018,000 after buying an additional 11,177 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on KD shares. Morgan Stanley initiated coverage on shares of Kyndryl in a research report on Friday, September 26th. They issued an “equal weight” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of Kyndryl from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Zacks Research raised Kyndryl from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Susquehanna set a $35.00 price target on Kyndryl in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kyndryl currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Kyndryl Price Performance

Kyndryl stock opened at $24.10 on Tuesday. The firm has a market cap of $5.51 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.84. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.02 and a quick ratio of 1.02. Kyndryl Holdings, Inc. has a one year low of $24.01 and a one year high of $44.20. The stock’s fifty day moving average price is $29.11 and its two-hundred day moving average price is $34.33.

Kyndryl (NYSE:KD) last released its earnings results on Tuesday, November 4th. The company reported $0.38 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 firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the firm earned $0.01 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Kyndryl has set its FY 2026 guidance at EPS. As a group, research analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

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.