Victory Capital Management Inc. Sells 576 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Victory Capital Management Inc. trimmed its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,586 shares of the company’s stock after selling 576 shares during the period. Victory Capital Management Inc.’s holdings in Kyndryl were worth $1,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KD. Atria Investments Inc boosted its position in shares of Kyndryl by 4.5% during the 3rd quarter. Atria Investments Inc now owns 15,470 shares of the company’s stock valued at $356,000 after acquiring an additional 663 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Kyndryl by 147.1% in the 3rd quarter. GSA Capital Partners LLP now owns 26,483 shares of the company’s stock valued at $609,000 after purchasing an additional 15,766 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Kyndryl by 39.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,841 shares of the company’s stock worth $548,000 after buying an additional 6,688 shares during the period. KBC Group NV boosted its stake in Kyndryl by 15.3% in the 3rd quarter. KBC Group NV now owns 6,443 shares of the company’s stock valued at $148,000 after buying an additional 857 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in Kyndryl by 22.0% in the third quarter. Avior Wealth Management LLC now owns 19,974 shares of the company’s stock valued at $459,000 after acquiring an additional 3,597 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

Kyndryl stock opened at $34.55 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $8.04 billion, a P/E ratio of 62.83, a P/E/G ratio of 10.84 and a beta of 1.85. The business’s fifty day moving average is $38.26 and its two-hundred day moving average is $31.80. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61.

Insiders Place Their Bets

In other news, General Counsel Edward Sebold sold 27,500 shares of the company’s 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 transaction, the general counsel now owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 43,877 shares in the company, valued at $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.

Analysts Set New Price Targets

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

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.