Kyndryl Holdings, Inc. $KD Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 616,006 shares of the company’s stock after purchasing an additional 94,908 shares during the quarter. Thrivent Financial for Lutherans owned 0.27% of Kyndryl worth $18,499,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KD. AlphaQuest LLC lifted its holdings in Kyndryl by 11.6% during the 3rd quarter. AlphaQuest LLC now owns 10,151 shares of the company’s stock worth $305,000 after buying an additional 1,058 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Kyndryl by 0.8% in the third quarter. Arizona State Retirement System now owns 68,481 shares of the company’s stock worth $2,056,000 after acquiring an additional 572 shares in the last quarter. AE Wealth Management LLC increased its position in shares of Kyndryl by 580.1% during the third quarter. AE Wealth Management LLC now owns 36,004 shares of the company’s stock worth $1,081,000 after acquiring an additional 30,710 shares during the period. New York State Common Retirement Fund raised its stake in shares of Kyndryl by 7.0% in the third quarter. New York State Common Retirement Fund now owns 385,913 shares of the company’s stock valued at $11,589,000 after acquiring an additional 25,399 shares in the last quarter. Finally, one8zero8 LLC raised its stake in shares of Kyndryl by 18.0% in the third quarter. one8zero8 LLC now owns 16,712 shares of the company’s stock valued at $502,000 after acquiring an additional 2,552 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Shares of NYSE KD opened at $22.21 on Wednesday. The stock’s 50-day simple moving average is $25.98 and its 200-day simple moving average is $28.82. The firm has a market capitalization of $5.08 billion, a PE ratio of 13.14 and a beta of 1.84. Kyndryl Holdings, Inc. has a fifty-two week low of $20.62 and a fifty-two 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.

Kyndryl (NYSE:KD) last announced its quarterly 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 company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the firm posted $0.01 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Vineet Khurana sold 6,641 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 59,708 shares of the company’s stock, valued at $1,593,606.52. This trade represents a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KD. Susquehanna set a $35.00 target price on Kyndryl in a research note on Thursday, November 6th. Guggenheim lowered their price objective on Kyndryl from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday. Zacks Research upgraded shares of Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Finally, Scotiabank initiated coverage on shares of Kyndryl in a report on Tuesday, January 27th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.60.

About Kyndryl

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.