Comerica Bank Boosts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Comerica Bank raised its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 851,880 shares of the company's stock after acquiring an additional 76,107 shares during the period. Comerica Bank owned approximately 0.37% of Kyndryl worth $29,475,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KD. FMR LLC raised its holdings in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after buying an additional 6,371,541 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock valued at $127,434,000 after acquiring an additional 2,033,549 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after purchasing an additional 669,097 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Kyndryl by 60.5% in the fourth quarter. AQR Capital Management LLC now owns 1,747,662 shares of the company's stock worth $60,469,000 after purchasing an additional 658,866 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Kyndryl during the fourth quarter valued at $16,856,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

Shares of KD traded up $0.41 on Monday, reaching $33.56. The company's stock had a trading volume of 1,286,271 shares, compared to its average volume of 2,048,227. Kyndryl Holdings, Inc. has a 12-month low of $20.58 and a 12-month high of $43.61. The stock's 50 day simple moving average is $32.71 and its two-hundred day simple moving average is $33.67. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $7.81 billion, a P/E ratio of 61.02, a PEG ratio of 10.84 and a beta of 1.91.

Insider Buying and Selling at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of Kyndryl 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 transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the sale, the general counsel now directly 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 disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on KD shares. Oppenheimer boosted their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Susquehanna dropped their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

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.