Principal Financial Group Inc. Has $10.21 Million Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Principal Financial Group Inc. reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 768,861 shares of the company’s stock after selling 41,474 shares during the quarter. Principal Financial Group Inc. owned 0.34% of Kyndryl worth $10,210,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KD. Goldman Sachs Group Inc. raised its stake in shares of Kyndryl by 3,628.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock valued at $170,048,000 after buying an additional 16,920,997 shares in the last quarter. Norges Bank acquired a new position in shares of Kyndryl in the 4th quarter valued at $26,154,000. BlackRock Inc. raised its stake in shares of Kyndryl by 12.6% in the 3rd quarter. BlackRock Inc. now owns 18,909,290 shares of the company’s stock valued at $156,379,000 after buying an additional 2,123,293 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Kyndryl by 58.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,910,549 shares of the company’s stock valued at $40,658,000 after buying an additional 1,818,983 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kyndryl during the 1st quarter worth about $24,648,000. 64.89% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Up 0.2 %

Shares of NYSE:KD opened at $18.26 on Tuesday. Kyndryl Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $18.48. The company’s 50-day moving average price is $15.62 and its two-hundred day moving average price is $14.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.81. The firm has a market cap of $4.19 billion, a P/E ratio of -3.69 and a beta of 1.44.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. Kyndryl had a negative net margin of 6.69% and a negative return on equity of 11.38%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm earned ($0.45) EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts forecast that Kyndryl Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KD shares. JPMorgan Chase & Co. increased their target price on shares of Kyndryl from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 22nd. Susquehanna increased their target price on shares of Kyndryl from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th.

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.