PNC Financial Services Group Inc. Increases Position in Kyndryl Holdings, Inc. (NYSE:KD)

PNC Financial Services Group Inc. grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 41.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,148 shares of the company's stock after buying an additional 10,283 shares during the period. PNC Financial Services Group Inc.'s holdings in Kyndryl were worth $1,216,000 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. Westfield Capital Management Co. LP increased its stake in shares of Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock worth $74,894,000 after acquiring an additional 1,254,208 shares during the period. Tidal Investments LLC increased its stake in shares of Kyndryl by 45.9% during the third quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock worth $2,350,000 after acquiring an additional 32,173 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter worth about $255,000. National Bank of Canada FI increased 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 worth $15,096,000 after acquiring an additional 165,481 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 76,670 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

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Kyndryl Price Performance

KD traded down $1.24 on Thursday, hitting $34.23. 2,884,007 shares of the company were exchanged, compared to its average volume of 1,869,059. The business's fifty day moving average is $38.21 and its 200 day moving average is $31.83. The firm has a market capitalization of $7.96 billion, a P/E ratio of 62.23, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares in the company, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the 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 sale, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Kyndryl 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.