Blue Trust Inc. Reduces Position in Kyndryl Holdings, Inc. (NYSE:KD)

Blue Trust Inc. cut its position in Kyndryl Holdings, Inc. (NYSE:KD) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,976 shares of the company’s stock after selling 1,358 shares during the period. Blue Trust Inc.’s holdings in Kyndryl were worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Westfield Capital Management Co. LP boosted its stake in Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after purchasing an additional 1,254,208 shares during the period. Tidal Investments LLC boosted its stake in Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Kyndryl during the 4th quarter worth $255,000. National Bank of Canada FI lifted its stake in shares of Kyndryl by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after acquiring an additional 165,481 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after acquiring an additional 76,670 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

Shares of KD stock opened at $38.39 on Friday. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average price of $38.05 and a 200 day moving average price of $30.22. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 69.80, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86.

Insiders Place Their Bets

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the 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 transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. This represents a 17.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction on Thursday, February 6th. The shares were 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 owns 43,877 shares in the company, 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. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.