New York State Teachers Retirement System Trims Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

New York State Teachers Retirement System cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 209,089 shares of the company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Kyndryl worth $7,234,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KD. FMR LLC lifted its stake in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after buying an additional 1,254,208 shares during the period. Cinctive Capital Management LP purchased a new position in shares of Kyndryl in the third quarter worth about $20,213,000. Cortland Associates Inc. MO increased its holdings in shares of Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after buying an additional 565,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Kyndryl by 166.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after purchasing an additional 524,168 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

KD stock opened at $40.96 on Thursday. The stock has a market capitalization of $9.53 billion, a PE ratio of 74.48, a price-to-earnings-growth ratio of 12.29 and a beta of 1.86. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock’s 50 day simple moving average is $37.91 and its 200 day simple moving average is $29.99.

Analysts Set New Price Targets

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

Insider Activity

In other news, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares of the company’s stock, valued at $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. Insiders own 1.04% of the company’s stock.

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.