Thrivent Financial for Lutherans Purchases 192,675 Shares of Kyndryl Holdings, Inc. $KD

Thrivent Financial for Lutherans increased its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 58.7% during the second quarter, Holdings Channel reports. The fund owned 521,098 shares of the company’s stock after purchasing an additional 192,675 shares during the period. Thrivent Financial for Lutherans’ holdings in Kyndryl were worth $21,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KD. Magnetar Financial LLC bought a new position in shares of Kyndryl in the first quarter valued at about $943,000. Landscape Capital Management L.L.C. bought a new stake in Kyndryl during the 1st quarter worth about $605,000. Raymond James Financial Inc. increased its position in Kyndryl by 10.6% in the 1st quarter. Raymond James Financial Inc. now owns 363,043 shares of the company’s stock valued at $11,400,000 after acquiring an additional 34,735 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Kyndryl by 29.0% in the first quarter. Hsbc Holdings PLC now owns 38,094 shares of the company’s stock worth $1,190,000 after acquiring an additional 8,559 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Kyndryl by 56.2% during the first quarter. Voya Investment Management LLC now owns 71,664 shares of the company’s stock worth $2,250,000 after purchasing an additional 25,784 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of Kyndryl stock opened at $26.51 on Wednesday. Kyndryl Holdings, Inc. has a 52 week low of $23.28 and a 52 week high of $44.20. 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 stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 15.69 and a beta of 1.85. The firm has a fifty day moving average of $26.79 and a two-hundred day moving average of $32.47.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Kyndryl

In related news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were 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 in the company, valued at $1,593,606.52. This trade represents a 10.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Kyndryl 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.