Truist Financial Corp Sells 1,096 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Truist Financial Corp reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,541 shares of the company’s stock after selling 1,096 shares during the quarter. Truist Financial Corp’s holdings in Kyndryl were worth $462,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after buying an additional 422 shares during the period. Creative Planning boosted its position in Kyndryl by 11.2% during the 2nd quarter. Creative Planning now owns 41,615 shares of the company’s stock valued at $1,095,000 after acquiring an additional 4,192 shares in the last quarter. Algert Global LLC boosted its position in shares of Kyndryl by 52.6% in the 2nd quarter. Algert Global LLC now owns 151,167 shares of the company’s stock worth $3,977,000 after purchasing an additional 52,077 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of Kyndryl in the 2nd quarter worth $480,000. Finally, Mackenzie Financial Corp raised its stake in Kyndryl by 47.2% in the 2nd quarter. Mackenzie Financial Corp now owns 810,488 shares of the company’s stock worth $21,324,000 after acquiring an additional 259,824 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer initiated coverage on Kyndryl in a research note on Thursday, June 27th. They set an “outperform” rating and a $33.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $29.40.

Kyndryl Trading Up 0.4 %

KD stock opened at $25.03 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 12-month low of $13.87 and a 12-month high of $28.60. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of -16.80, a PEG ratio of 5.42 and a beta of 1.63. The business’s 50-day moving average is $23.33 and its 200 day moving average is $24.21.

Kyndryl (NYSE:KD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. On average, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.89 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.