Scotia Capital Inc. Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

Scotia Capital Inc. bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the fourth quarter, HoldingsChannel reports. The fund bought 30,898 shares of the company’s stock, valued at approximately $1,069,000.

Several other hedge funds and other institutional investors have also bought and sold shares of KD. Millstone Evans Group LLC purchased a new position in shares of Kyndryl during the fourth quarter valued at approximately $35,000. Picton Mahoney Asset Management purchased a new position in shares of Kyndryl in the 4th quarter worth $38,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after acquiring an additional 297 shares during the period. Sandy Spring Bank increased its position in Kyndryl by 41.2% during the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock valued at $52,000 after acquiring an additional 442 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Kyndryl in the fourth quarter valued at about $60,000. Institutional investors own 71.53% of the company’s stock.

Insider Transactions at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred 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 directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Susquehanna increased their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer upped their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th.

Kyndryl Price Performance

NYSE KD opened at $29.42 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 53.49, a PEG ratio of 10.84 and a beta of 1.91. The company’s 50 day moving average is $35.63 and its two-hundred day moving average is $32.93.

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.