PNC Financial Services Group Inc. Purchases 10,283 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

PNC Financial Services Group Inc. lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 41.4% during the fourth quarter, HoldingsChannel reports. The firm owned 35,148 shares of the company’s stock after buying an additional 10,283 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kyndryl were worth $1,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Kyndryl during the fourth quarter worth $11,359,000. Arizona State Retirement System lifted its position in Kyndryl by 1.1% in the 4th quarter. Arizona State Retirement System now owns 67,100 shares of the company’s stock valued at $2,322,000 after acquiring an additional 724 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Kyndryl in the 4th quarter valued at $515,000. M&T Bank Corp lifted its position in Kyndryl by 6.2% in the 4th quarter. M&T Bank Corp now owns 13,656 shares of the company’s stock valued at $472,000 after acquiring an additional 803 shares in the last quarter. Finally, Westover Capital Advisors LLC lifted its position in Kyndryl by 2.0% in the 4th quarter. Westover Capital Advisors LLC now owns 61,783 shares of the company’s stock valued at $2,138,000 after acquiring an additional 1,235 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on KD. Oppenheimer boosted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Susquehanna boosted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Finally, Bank of America assumed coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock.

Insider Buying and Selling at Kyndryl

In other news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $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 available at this link. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was 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 $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Kyndryl Stock Up 4.5 %

Shares of KD stock opened at $35.26 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 1 year low of $19.24 and a 1 year high of $43.61. The firm’s fifty day moving average price is $38.39 and its two-hundred day moving average price is $31.64. The firm has a market capitalization of $8.20 billion, a P/E ratio of 64.10, a PEG ratio of 10.84 and a beta of 1.85.

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.