M&T Bank Corp Increases Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

M&T Bank Corp grew its position in Kyndryl Holdings, Inc. (NYSE:KD) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,656 shares of the company’s stock after buying an additional 803 shares during the quarter. M&T Bank Corp’s holdings in Kyndryl were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Westover Capital Advisors LLC increased its position in shares of Kyndryl by 2.0% in the fourth quarter. Westover Capital Advisors LLC now owns 61,783 shares of the company’s stock valued at $2,138,000 after buying an additional 1,235 shares in the last quarter. Quintet Private Bank Europe S.A. acquired a new stake in shares of Kyndryl during the fourth quarter valued at $1,421,000. SBI Securities Co. Ltd. acquired a new stake in shares of Kyndryl during the fourth quarter valued at $379,000. Jones Financial Companies Lllp boosted its stake in shares of Kyndryl by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,134 shares of the company’s stock valued at $178,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Kyndryl during the fourth quarter valued at $515,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Ratings Changes

KD has been the topic of a number of analyst reports. Susquehanna increased their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Bank of America initiated coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer increased their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was 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 of the company’s stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl 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 completion of the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $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 owned by corporate insiders.

Kyndryl Stock Down 1.0 %

Shares of NYSE:KD opened at $33.67 on Friday. The stock’s 50-day moving average price is $38.43 and its two-hundred day moving average price is $31.45. 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 firm has a market cap of $7.84 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 10.84 and a beta of 1.85.

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.