Handelsbanken Fonder AB Raises Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Handelsbanken Fonder AB boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 59,500 shares of the company’s stock after acquiring an additional 2,900 shares during the period. Handelsbanken Fonder AB’s holdings in Kyndryl were worth $2,059,000 at the end of the most recent quarter.

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

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction dated 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 represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the sale, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Kyndryl Stock Performance

NYSE KD opened at $37.04 on Wednesday. The firm has a market capitalization of $8.62 billion, a P/E ratio of 67.35, a P/E/G ratio of 10.84 and a beta of 1.86. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The business’s 50-day simple moving average is $38.11 and its 200-day simple moving average is $30.49.

Wall Street Analyst Weigh In

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

About Kyndryl

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.