Kyndryl Holdings, Inc. (NYSE:KD) is Covestor Ltd’s 6th Largest Position

Covestor Ltd grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,361 shares of the company’s stock after acquiring an additional 2,030 shares during the quarter. Kyndryl comprises approximately 0.9% of Covestor Ltd’s portfolio, making the stock its 6th biggest position. Covestor Ltd’s holdings in Kyndryl were worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in shares of Kyndryl by 9.4% during the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company’s stock valued at $99,000 after buying an additional 247 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after purchasing an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Kyndryl by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock valued at $1,037,000 after acquiring an additional 312 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Kyndryl by 0.7% in 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 last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Kyndryl by 19.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company’s stock worth $78,000 after buying an additional 370 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Kyndryl news, 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 transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,177,825.00. Following the completion of the sale, the general counsel now owns 132,818 shares of the company’s stock, valued at $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on KD shares. Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Susquehanna raised their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th.

Kyndryl Stock Down 4.7 %

NYSE KD traded down $1.45 during trading hours on Thursday, hitting $29.70. The company had a trading volume of 128,323 shares, compared to its average volume of 2,037,383. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 54.00, a P/E/G ratio of 10.84 and a beta of 1.91. 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 firm’s 50 day moving average is $36.02 and its 200 day moving average is $32.77.

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.