Principal Financial Group Inc. Sells 100,107 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Principal Financial Group Inc. decreased its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 766,049 shares of the company’s stock after selling 100,107 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Kyndryl worth $20,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Kyndryl in the 1st quarter valued at $26,000. ORG Partners LLC boosted its holdings in shares of Kyndryl by 622.4% during the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after acquiring an additional 1,220 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Kyndryl during the 1st quarter valued at $33,000. Fortis Group Advisors LLC boosted its holdings in shares of Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares in the last quarter. Finally, Pingora Partners LLC acquired a new stake in shares of Kyndryl during the 4th quarter valued at $50,000. Institutional investors own 71.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KD. Scotiabank raised their price objective on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a report on Monday, May 13th. Oppenheimer assumed coverage on Kyndryl in a report on Thursday, June 27th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Susquehanna lifted their target price on Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, May 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.40.

Kyndryl Stock Down 3.7 %

Shares of NYSE:KD opened at $22.81 on Wednesday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -15.31, a P/E/G ratio of 4.75 and a beta of 1.67. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $24.99 and its 200-day moving average is $23.86. Kyndryl Holdings, Inc. has a 1 year low of $13.87 and a 1 year high of $28.60.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. Equities research analysts predict that Kyndryl Holdings, Inc. will post 1 earnings per share for the current year.

Kyndryl Company 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.