California Public Employees Retirement System Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

California Public Employees Retirement System lessened its position in Kyndryl Holdings, Inc. (NYSE:KD) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 340,250 shares of the company’s stock after selling 40,252 shares during the period. California Public Employees Retirement System’s holdings in Kyndryl were worth $11,773,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after acquiring an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Kyndryl by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock valued at $1,037,000 after buying an additional 312 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company’s stock valued at $1,775,000 after acquiring an additional 332 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of Kyndryl by 19.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company’s stock valued at $78,000 after acquiring an additional 370 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Kyndryl by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock worth $2,232,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

KD has been the subject of a number of research reports. Susquehanna boosted their target price 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. Oppenheimer raised their target price on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th.

Insider Buying and Selling at Kyndryl

In related 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This 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 currently owned by corporate insiders.

Kyndryl Trading Down 7.4 %

Shares of KD stock opened at $28.71 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 52.21, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The firm has a fifty day moving average price of $36.90 and a 200-day moving average price of $32.65.

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.