Kyndryl (NYSE:KD) Shares Down 1.6% - What's Next?

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) fell 1.6% on Wednesday . The company traded as low as $40.95 and last traded at $41.20. 459,353 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,383,648 shares. The stock had previously closed at $41.87.

Analysts Set New Price Targets

A number of analysts recently 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 price target on the stock. Susquehanna increased their target price 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. Finally, Oppenheimer boosted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th.

Kyndryl Trading Down 3.4 %

The stock's 50 day simple moving average is $38.05 and its 200 day simple moving average is $30.16. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $8.93 billion, a PE ratio of 69.80, a PEG ratio of 10.84 and a beta of 1.86.

Insider Activity at Kyndryl

In other news, General Counsel Edward Sebold sold 27,500 shares of the business'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 value of $1,177,825.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KD. Westfield Capital Management Co. LP lifted its position in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the last quarter. Tidal Investments LLC raised its holdings in Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock valued at $2,350,000 after buying an additional 32,173 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Kyndryl during the 4th quarter valued at $255,000. National Bank of Canada FI raised its stake in shares of Kyndryl by 33.7% during the third quarter. National Bank of Canada FI now owns 656,901 shares of the company's stock valued at $15,096,000 after acquiring an additional 165,481 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company's stock worth $45,229,000 after purchasing an additional 76,670 shares during the period. Hedge funds and other institutional investors own 71.53% of the company's stock.

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.