Kyndryl Holdings, Inc. (NYSE:KD) Stake Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,861 shares of the company’s stock after selling 3,142 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Kyndryl worth $6,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Kyndryl by 6.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,910 shares of the company’s stock valued at $655,000 after acquiring an additional 1,430 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Kyndryl by 68.3% in the 2nd quarter. Blue Trust Inc. now owns 3,212 shares of the company’s stock valued at $85,000 after purchasing an additional 1,303 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Kyndryl by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock valued at $3,095,000 after purchasing an additional 790 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Kyndryl in the second quarter worth $194,000. Finally, Bank of New York Mellon Corp increased its position in Kyndryl by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock worth $55,321,000 after buying an additional 158,160 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Trading Down 3.6 %

Shares of NYSE:KD opened at $34.10 on Thursday. Kyndryl Holdings, Inc. has a 52-week low of $19.19 and a 52-week high of $36.43. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $7.92 billion, a P/E ratio of -87.43, a P/E/G ratio of 8.62 and a beta of 1.86. The stock’s 50-day moving average is $28.93 and its 200-day moving average is $26.15.

Analyst Ratings Changes

KD has been the subject of a number of analyst reports. Susquehanna boosted their price target on Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, November 22nd. Bank of America started coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Finally, Oppenheimer upped their target price on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyndryl currently has a consensus rating of “Buy” and a consensus target price of $34.60.

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.