Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 668,187 shares of the company's stock after selling 170,991 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.29% of Kyndryl worth $23,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KD. Atria Investments Inc grew its holdings in shares of Kyndryl by 4.5% during the 3rd quarter. Atria Investments Inc now owns 15,470 shares of the company's stock valued at $356,000 after purchasing an additional 663 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Kyndryl by 147.1% during the third quarter. GSA Capital Partners LLP now owns 26,483 shares of the company's stock worth $609,000 after buying an additional 15,766 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Kyndryl by 39.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,841 shares of the company's stock valued at $548,000 after acquiring an additional 6,688 shares in the last quarter. KBC Group NV grew its position in Kyndryl by 15.3% during the 3rd quarter. KBC Group NV now owns 6,443 shares of the company's stock worth $148,000 after acquiring an additional 857 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Kyndryl by 9.6% in the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company's stock worth $60,744,000 after purchasing an additional 232,583 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

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Kyndryl Stock Performance

KD traded up $0.20 during trading on Monday, hitting $35.47. 1,584,623 shares of the company traded hands, compared to its average volume of 1,857,111. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $43.61. The stock's fifty day moving average is $38.39 and its 200 day moving average is $31.64. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm has a market cap of $8.25 billion, a P/E ratio of 64.49, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 132,818 shares of the company's stock, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate 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.