Inspire Investing LLC Has $2.33 Million Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Inspire Investing LLC lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,644 shares of the company’s stock after purchasing an additional 13,764 shares during the quarter. Inspire Investing LLC’s holdings in Kyndryl were worth $2,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Kyndryl by 0.3% during the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after purchasing an additional 81,826 shares in the last quarter. Greenlight Capital Inc. lifted its position in Kyndryl by 13.7% in the 4th quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after acquiring an additional 767,943 shares in the last quarter. Renaissance Technologies LLC lifted its position in Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after acquiring an additional 675,800 shares in the last quarter. Norges Bank bought a new stake in Kyndryl in the 4th quarter valued at $54,283,000. Finally, Zimmer Partners LP lifted its position in Kyndryl by 1.3% in the 1st quarter. Zimmer Partners LP now owns 2,542,885 shares of the company’s stock valued at $55,333,000 after acquiring an additional 32,000 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Oppenheimer assumed coverage on shares of Kyndryl in a research report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.40.

Kyndryl Stock Up 2.2 %

Shares of KD stock opened at $23.48 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. Kyndryl Holdings, Inc. has a 1 year low of $13.87 and a 1 year high of $28.60. The firm’s fifty day moving average price is $24.29 and its two-hundred day moving average price is $23.95. The firm has a market capitalization of $5.41 billion, a P/E ratio of -15.76, a PEG ratio of 4.77 and a beta of 1.64.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. On average, equities analysts predict that Kyndryl Holdings, Inc. will post 0.95 EPS for the current fiscal year.

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.