7,056 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,056 shares of the company's stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Kyndryl by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company's stock worth $1,037,000 after buying an additional 312 shares during the period. Louisiana State Employees Retirement System increased its stake in 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 purchasing an additional 400 shares during the period. UMB Bank n.a. lifted its position in shares of Kyndryl by 27.1% during the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock worth $66,000 after purchasing an additional 408 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock valued at $80,000 after purchasing an additional 496 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Kyndryl by 24.0% in the fourth quarter. GAMMA Investing LLC now owns 2,999 shares of the company's stock worth $104,000 after purchasing an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 price target for the company. Finally, Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th.

Kyndryl Stock Up 0.9 %

NYSE:KD traded up $0.34 during mid-day trading on Friday, reaching $38.07. The company's stock had a trading volume of 2,991,751 shares, compared to its average volume of 2,364,650. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The stock has a fifty day moving average of $38.34 and a 200-day moving average of $30.70. The firm has a market capitalization of $8.86 billion, a PE ratio of 69.22, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Buying and Selling

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the business'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 completion of the transaction, the general counsel now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the transaction, 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 disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

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.