State of New Jersey Common Pension Fund D Trims Stock Holdings in Kyndryl Holdings, Inc. $KD

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Kyndryl Holdings, Inc. by 11.4%, selling 10,428 shares and ending the quarter with 81,142 shares valued at approximately $2.5 million.
• Insider trading activity included a significant sale by SVP Vineet Khurana, who sold 26,451 shares for over $1 million, reducing his ownership by 26.52%.
• Kyndryl's stock has a current market capitalization of $7.03 billion and has been rated as a "Buy" by analysts, with a consensus target price of $46.00.

State of New Jersey Common Pension Fund D reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,142 shares of the company's stock after selling 10,428 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Kyndryl were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KD. Envestnet Asset Management Inc. increased its stake in Kyndryl by 64.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,729 shares of the company's stock valued at $1,686,000 after purchasing an additional 19,079 shares during the last quarter. Mariner LLC increased its stake in Kyndryl by 4.5% in the fourth quarter. Mariner LLC now owns 51,289 shares of the company's stock valued at $1,775,000 after purchasing an additional 2,190 shares during the last quarter. NewEdge Advisors LLC increased its stake in Kyndryl by 92.7% in the fourth quarter. NewEdge Advisors LLC now owns 2,047 shares of the company's stock valued at $71,000 after purchasing an additional 985 shares during the last quarter. Marshall Wace LLP acquired a new position in Kyndryl in the fourth quarter valued at $546,000. Finally, GeoWealth Management LLC acquired a new position in Kyndryl in the fourth quarter valued at $84,000. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on KD. Oppenheimer upped their target price on Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered Kyndryl from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kyndryl has an average rating of "Buy" and an average target price of $46.00.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the sale, the senior vice president owned 73,278 shares of the company's stock, valued at $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Kyndryl Stock Up 0.9%

Shares of NYSE KD traded up $0.28 on Wednesday, hitting $31.55. The company had a trading volume of 2,209,812 shares, compared to its average volume of 3,806,039. Kyndryl Holdings, Inc. has a 12-month low of $22.26 and a 12-month high of $44.20. The business has a 50 day moving average of $36.81 and a two-hundred day moving average of $36.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $7.29 billion, a P/E ratio of 26.08, a PEG ratio of 3.42 and a beta of 1.91.

Kyndryl (NYSE:KD - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Kyndryl had a return on equity of 19.88% and a net margin of 1.97%.The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The company's revenue was up .1% compared to the same quarter last year. Kyndryl has set its FY 2026 guidance at EPS. As a group, equities research analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Kyndryl Company 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.