Royce & Associates LP Sells 312,604 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Royce & Associates LP reduced its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330,724 shares of the company's stock after selling 312,604 shares during the period. Kyndryl accounts for 0.7% of Royce & Associates LP's portfolio, making the stock its 12th largest position. Royce & Associates LP owned approximately 1.00% of Kyndryl worth $80,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Westfield Capital Management Co. LP boosted its holdings in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock valued at $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Tidal Investments LLC boosted its stake in 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 in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Kyndryl in 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 valued at $15,096,000 after purchasing an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kyndryl by 4.1% in the 3rd 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 in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of Kyndryl 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 completion of 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 position. The transaction 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 stock in a transaction 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 transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer lifted their price objective on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Susquehanna upped 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. Finally, Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They set a "buy" rating and a $40.00 price objective for the company.

Kyndryl Stock Down 3.5 %

Shares of KD stock traded down $1.24 during mid-day trading on Thursday, hitting $34.23. The company's stock had a trading volume of 2,884,327 shares, compared to its average volume of 1,869,060. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 62.23, a PEG ratio of 10.84 and a beta of 1.85. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61. The business has a 50-day moving average price of $38.21 and a 200 day moving average price of $31.83.

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.