The Manufacturers Life Insurance Company Lowers Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

The Manufacturers Life Insurance Company reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,601 shares of the company’s stock after selling 3,636 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kyndryl were worth $6,595,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KD. Barclays PLC boosted its stake in Kyndryl by 49.2% in the third quarter. Barclays PLC now owns 255,958 shares of the company’s stock worth $5,882,000 after buying an additional 84,347 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kyndryl in the 3rd quarter valued at $171,000. Franklin Resources Inc. grew its holdings in shares of Kyndryl by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 90,068 shares of the company’s stock valued at $2,237,000 after purchasing an additional 11,786 shares during the last quarter. GAMMA Investing LLC raised its position in Kyndryl by 24.0% in the 4th quarter. GAMMA Investing LLC now owns 2,999 shares of the company’s stock worth $104,000 after purchasing an additional 580 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in Kyndryl in the fourth quarter worth $213,000. Institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KD shares. Oppenheimer boosted their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Susquehanna reduced their target price on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd.

Insider Transactions at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction 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 transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was 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 directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents 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 opened at $33.27 on Wednesday. The firm has a 50-day moving average of $32.61 and a 200 day moving average of $33.73. 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 company has a market cap of $7.74 billion, a P/E ratio of 60.49, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 1 year low of $20.75 and a 1 year high of $43.61.

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.