Great Lakes Advisors LLC Cuts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Great Lakes Advisors LLC trimmed its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 98.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,005 shares of the company's stock after selling 463,372 shares during the period. Great Lakes Advisors LLC's holdings in Kyndryl were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Kyndryl by 35.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after purchasing an additional 297 shares in the last quarter. AlphaQuest LLC raised its holdings in Kyndryl by 147.3% during the fourth quarter. AlphaQuest LLC now owns 1,877 shares of the company's stock worth $65,000 after purchasing an additional 1,118 shares in the last quarter. UMB Bank n.a. raised its holdings in 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 in the last quarter. Fifth Third Bancorp raised its holdings in Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock worth $80,000 after purchasing an additional 496 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Kyndryl by 56.4% during the fourth quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock worth $85,000 after purchasing an additional 886 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KD has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Susquehanna increased their target price on shares of Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Finally, Bank of America initiated coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company.

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Insider Activity

In related news, SVP Vineet Khurana sold 55,465 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the sale, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $42.83, for a total transaction 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. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Kyndryl Price Performance

Shares of KD stock traded down $1.24 during trading hours on Thursday, hitting $34.23. The company's stock had a trading volume of 2,884,147 shares, compared to its average volume of 2,337,585. The business has a fifty day moving average of $38.21 and a 200-day moving average of $31.83. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 62.23, a P/E/G ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

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.