Mitsubishi UFJ Asset Management Co. Ltd. Purchases 19,531 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 545.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,113 shares of the company's stock after purchasing an additional 19,531 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Kyndryl were worth $861,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Financial Counselors Inc. purchased a new stake in Kyndryl in the 4th quarter worth approximately $324,000. TIAA Trust National Association purchased a new stake in shares of Kyndryl in the fourth quarter worth $231,000. Prudential Financial Inc. boosted its stake in Kyndryl by 77.8% during the fourth quarter. Prudential Financial Inc. now owns 515,413 shares of the company's stock valued at $17,833,000 after buying an additional 225,463 shares during the period. Vanguard Group Inc. boosted its stake in Kyndryl by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock valued at $964,434,000 after buying an additional 79,575 shares during the period. Finally, LPL Financial LLC grew its position in Kyndryl by 22.4% during the fourth quarter. LPL Financial LLC now owns 99,506 shares of the company's stock worth $3,443,000 after buying an additional 18,198 shares in the last quarter. Institutional investors own 71.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Oppenheimer lifted their target price 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.

Insider Activity

In related news, 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 transaction of $1,177,825.00. Following the transaction, the general counsel now owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Kyndryl Price Performance

KD stock traded down $0.54 during mid-day trading on Monday, hitting $28.19. 3,128,940 shares of the stock were exchanged, compared to its average volume of 2,035,537. The business has a fifty day moving average price of $36.71 and a 200 day moving average price of $32.74. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61. 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 stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 10.84 and a beta of 1.91.

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.