Retirement Systems of Alabama Sells 3,142 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Retirement Systems of Alabama reduced its position in Kyndryl Holdings, Inc. (NYSE:KD) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 280,861 shares of the company’s stock after selling 3,142 shares during the quarter. Retirement Systems of Alabama’s holdings in Kyndryl were worth $6,454,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KD. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kyndryl by 6.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,910 shares of the company’s stock worth $655,000 after acquiring an additional 1,430 shares during the period. Blue Trust Inc. lifted its stake in Kyndryl by 68.3% during the second quarter. Blue Trust Inc. now owns 3,212 shares of the company’s stock worth $85,000 after purchasing an additional 1,303 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Kyndryl by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock valued at $3,095,000 after purchasing an additional 790 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Kyndryl in the 2nd quarter valued at approximately $194,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kyndryl by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock worth $55,321,000 after buying an additional 158,160 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Price Performance

Kyndryl stock opened at $34.10 on Thursday. Kyndryl Holdings, Inc. has a 52 week low of $19.19 and a 52 week high of $36.43. The firm has a market cap of $7.92 billion, a P/E ratio of -87.43, a P/E/G ratio of 8.62 and a beta of 1.86. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The business’s fifty day moving average is $28.93 and its two-hundred day moving average is $26.15.

Wall Street Analyst Weigh In

KD has been the topic of several recent analyst reports. Susquehanna boosted their price target on Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research note on Friday, November 22nd. Oppenheimer upped their target price on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Bank of America began coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $34.60.

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.