7,056 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc acquired a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,056 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KD. UMB Bank n.a. boosted its stake in Kyndryl by 27.1% during the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock worth $66,000 after acquiring an additional 408 shares during the last quarter. Fifth Third Bancorp lifted its stake in Kyndryl by 27.5% in the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock valued at $80,000 after buying an additional 496 shares in the last quarter. Blue Trust Inc. lifted its stake in Kyndryl by 34.9% in the third quarter. Blue Trust Inc. now owns 4,334 shares of the company’s stock valued at $100,000 after buying an additional 1,122 shares in the last quarter. GAMMA Investing LLC lifted its stake in Kyndryl by 24.0% in the fourth quarter. GAMMA Investing LLC now owns 2,999 shares of the company’s stock valued at $104,000 after buying an additional 580 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Kyndryl by 983.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,109 shares of the company’s stock valued at $108,000 after buying an additional 2,822 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KD shares. Susquehanna lifted their price target on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Bank of America began coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th.

Insider Buying and Selling

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the transaction, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Kyndryl Price Performance

Shares of KD opened at $37.04 on Wednesday. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 10.84 and a beta of 1.86. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The company’s fifty day simple moving average is $38.11 and its 200 day simple moving average is $30.49. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

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.