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 2nd quarter, Holdings Channel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC grew its stake in Kyndryl by 240.7% in the 1st quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after buying an additional 39,408 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Kyndryl by 11.8% in the 1st quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock valued at $333,000 after buying an additional 1,621 shares during the last quarter. Sei Investments Co. grew its stake in Kyndryl by 23.4% in the 1st quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock valued at $5,674,000 after buying an additional 49,520 shares during the last quarter. SG Americas Securities LLC acquired a new position in Kyndryl in the 2nd quarter valued at about $1,418,000. Finally, Norges Bank acquired a new position in Kyndryl in the 4th quarter valued at about $54,283,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

NYSE KD opened at $23.48 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.82. The company has a market capitalization of $5.41 billion, a P/E ratio of -15.76, a P/E/G ratio of 4.77 and a beta of 1.64. Kyndryl Holdings, Inc. has a 12-month low of $13.87 and a 12-month high of $28.60. The firm has a 50-day moving average price of $24.29 and a two-hundred day moving average price of $23.95.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.78 billion. Analysts anticipate that Kyndryl Holdings, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer began coverage on shares of Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $29.40.

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.