Penserra Capital Management LLC Raises Holdings in Kyndryl Holdings, Inc. $KD

Penserra Capital Management LLC grew its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 315,439 shares of the company’s stock after buying an additional 54,945 shares during the quarter. Penserra Capital Management LLC’s holdings in Kyndryl were worth $9,472,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in Kyndryl by 56.1% in the third quarter. Allianz Asset Management GmbH now owns 1,077,425 shares of the company’s stock worth $32,355,000 after acquiring an additional 387,408 shares during the last quarter. Money Concepts Capital Corp raised its holdings in shares of Kyndryl by 26.6% in the 3rd quarter. Money Concepts Capital Corp now owns 67,888 shares of the company’s stock valued at $2,039,000 after purchasing an additional 14,260 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Kyndryl by 34.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 26,411 shares of the company’s stock valued at $778,000 after purchasing an additional 6,703 shares in the last quarter. Convergence Investment Partners LLC lifted its position in shares of Kyndryl by 26.2% during the 3rd quarter. Convergence Investment Partners LLC now owns 78,932 shares of the company’s stock worth $2,370,000 after purchasing an additional 16,373 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of Kyndryl by 29.9% during the third quarter. Transcend Capital Advisors LLC now owns 13,161 shares of the company’s stock worth $395,000 after purchasing an additional 3,026 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Trading Up 5.3%

NYSE:KD opened at $23.38 on Thursday. The company has a market capitalization of $5.34 billion, a PE ratio of 13.83 and a beta of 1.84. Kyndryl Holdings, Inc. has a 52-week low of $20.62 and a 52-week high of $44.20. The stock’s 50 day moving average price is $25.94 and its 200 day moving average price is $28.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.24.

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

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 6,641 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $26.69, for a total transaction of $177,248.29. Following the transaction, the senior vice president directly owned 59,708 shares of the company’s stock, valued at approximately $1,593,606.52. This trade represents a 10.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on KD. Zacks Research upgraded Kyndryl from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Guggenheim cut their target price on Kyndryl from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Kyndryl from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kyndryl in a research note on Wednesday, October 8th. Finally, Susquehanna set a $35.00 price objective on shares of Kyndryl in a research report on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Kyndryl currently has a consensus 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.