Louisiana State Employees Retirement System Has $2.23 Million Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Louisiana State Employees Retirement System lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,500 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kyndryl were worth $2,232,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KD. FMR LLC raised its position in shares of Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP raised 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 during the last quarter. Cinctive Capital Management LP purchased a new stake in Kyndryl in the 3rd quarter valued at $20,213,000. Cortland Associates Inc. MO raised its position in Kyndryl by 35.7% in the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock valued at $49,421,000 after buying an additional 565,263 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Kyndryl by 166.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after buying an additional 524,168 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Up 0.4 %

Shares of NYSE:KD opened at $41.71 on Friday. The company has a market capitalization of $9.69 billion, a PE ratio of 75.84, a price-to-earnings-growth ratio of 12.64 and a beta of 1.86. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $37.52 and a two-hundred day moving average price of $29.61. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Susquehanna increased their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Finally, Bank of America initiated coverage on Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target for the company.

Insider Buying and Selling at Kyndryl

In other 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 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. This represents a 17.15 % decrease in their position. The transaction was disclosed in a legal 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 transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

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.