Money Concepts Capital Corp Sells 3,431 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Money Concepts Capital Corp reduced its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 10.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,627 shares of the company’s stock after selling 3,431 shares during the period. Money Concepts Capital Corp’s holdings in Kyndryl were worth $990,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Westfield Capital Management Co. LP raised its position in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Tidal Investments LLC raised its holdings in Kyndryl by 45.9% in the third quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Kyndryl during the fourth quarter valued at $255,000. National Bank of Canada FI boosted its holdings in shares of Kyndryl by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock valued at $15,096,000 after buying an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after buying an additional 76,670 shares during the period. 71.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KD shares. Susquehanna lifted their price target on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday. Oppenheimer raised their target price on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Bank of America began coverage on Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target on the stock.

Kyndryl Stock Performance

Shares of KD stock opened at $43.40 on Thursday. The company’s 50-day moving average is $36.57 and its 200 day moving average is $28.93. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of -111.27, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $43.61. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03.

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.