Representative J. French Hill of Arkansas has sold a portion of his shares in Kyndryl Holdings, Inc. (NYSE: KD), according to a filing made public on January 23, 2024. This transaction occurred on December 31, 2023, where Hill reported divesting between $1,001 and $15,000 worth of Kyndryl stock from his “HILL 1998 TRUST” account.
As of the latest trading session, Kyndryl shares opened at $24.48, reflecting a company performance that has seen a 52-week low of $23.28 and a high of $44.20. Kyndryl currently holds a market capitalization of $5.59 billion, with a price-to-earnings ratio of 14.48 and a beta of 1.85. The company’s financial metrics indicate a debt-to-equity ratio of 2.24, alongside both a quick ratio and current ratio of 1.02.
Institutional Investments in Kyndryl
Recent activity in Kyndryl stock has also been noted among institutional investors. For instance, ST Germain D J Co. Inc. increased its stake by 135.2% during the second quarter, acquiring an additional 384 shares to reach a total of 668 shares valued at approximately $28,000. Similarly, Assetmark Inc. boosted its holdings by 75.3%, bringing its total to 775 shares worth $33,000 after purchasing 333 shares in the last quarter.
In a notable shift, NBT Bank N A NY expanded its investment by an astonishing 3,220.0% in the fourth quarter, acquiring 1,328 shares valued at around $35,000. Currently, institutional investors own approximately 71.53% of Kyndryl’s shares.
Insider Trading and Analyst Ratings
In other developments concerning Kyndryl, Senior Vice President Vineet Khurana sold 6,641 shares on December 5, 2023, at an average price of $26.69, totaling approximately $177,248. Following this sale, Khurana’s remaining stake is valued at about $1,593,606, marking a 10.01% reduction in his position. This transaction has been documented with the Securities and Exchange Commission.
Equities analysts have recently provided varying ratings for Kyndryl. Notably, Weiss Ratings reaffirmed a “hold (c)” rating, while Zacks Research upgraded the stock from a “strong sell” to a “hold” rating. Meanwhile, JPMorgan Chase & Co. reduced its price target from $45.00 to $40.00 while maintaining an “overweight” rating.
With one analyst rating Kyndryl as a Strong Buy, three analysts issued Buy ratings, and three assigned Hold ratings, the consensus on the stock places it at a “Moderate Buy” with a price target of $38.00 based on MarketBeat data.
About Representative J. French Hill
J. French Hill has represented Arkansas’ 2nd Congressional District since January 3, 2015. His current term is set to conclude on January 3, 2027. Hill is actively campaigning for re-election in the upcoming 2026 election. He has an extensive background in finance, having founded and chaired Delta Trust & Bank, and previously served as a senior policy advisor to President George H.W. Bush and as Deputy Assistant Secretary of the U.S. Treasury.
Kyndryl’s Corporate Overview
Founded in November 2021, Kyndryl emerged from the spin-off of IBM’s Managed Infrastructure Services business. The company specializes in providing managed infrastructure services, focusing on designing, building, managing, and modernizing IT systems for enterprises globally. Kyndryl’s offerings encompass cloud migration, network solutions, digital workplace services, and IT resiliency capabilities. With a workforce of around 90,000 professionals operating in over 60 countries, Kyndryl serves a diverse array of industries including finance, telecommunications, healthcare, manufacturing, and retail.
