Lecap Asset Management Ltd. Acquires New Position in Kyndryl Holdings, Inc. (NYSE:KD)

Lecap Asset Management Ltd. bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 39,296 shares of the company’s stock, valued at approximately $1,360,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in Kyndryl during the 3rd quarter valued at about $29,000. UMB Bank n.a. lifted its position in Kyndryl by 44.2% in the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock valued at $35,000 after purchasing an additional 462 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after purchasing an additional 422 shares during the period. Fifth Third Bancorp grew its holdings in shares of Kyndryl by 27.5% in the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock worth $80,000 after purchasing an additional 496 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Kyndryl by 15.2% in the third quarter. Trust Co. of Vermont now owns 3,513 shares of the company’s stock worth $81,000 after buying an additional 464 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Activity

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value 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. This represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. 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 price target for the company. Susquehanna raised their target price on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, 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.

Kyndryl Stock Performance

NYSE:KD opened at $41.78 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The stock has a market cap of $9.70 billion, a P/E ratio of -107.12, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86. The firm’s fifty day simple moving average is $36.73 and its 200 day simple moving average is $29.03.

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.