Arizona State Retirement System Acquires 724 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Arizona State Retirement System lifted its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,100 shares of the company’s stock after acquiring an additional 724 shares during the period. Arizona State Retirement System’s holdings in Kyndryl were worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC increased its position in Kyndryl by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after buying an additional 63,997 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Kyndryl by 62.6% in 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. Zimmer Partners LP increased its position in Kyndryl by 1.9% in the 3rd quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after buying an additional 49,738 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Kyndryl by 9.6% during the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after purchasing an additional 232,583 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Price Performance

Shares of NYSE KD opened at $33.85 on Tuesday. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The stock’s 50 day moving average price is $38.49 and its 200-day moving average price is $31.34. The company has a market capitalization of $7.88 billion, a PE ratio of 61.55, a PEG ratio of 10.84 and a beta of 1.85. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Transactions at Kyndryl

In related 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 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 can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl 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 completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at $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.

Analysts Set New Price Targets

A number of research firms have issued reports on KD. Oppenheimer lifted their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Bank of America began coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Finally, Susquehanna lifted their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

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.