Sterneck Capital Management LLC Reduces Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Sterneck Capital Management LLC trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 16.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,597 shares of the company’s stock after selling 4,100 shares during the quarter. Sterneck Capital Management LLC’s holdings in Kyndryl were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Westfield Capital Management Co. LP lifted its position in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after buying an additional 1,254,208 shares during the last quarter. Tidal Investments LLC raised its stake in Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after acquiring an additional 32,173 shares during the period. National Bank of Canada FI lifted its holdings in Kyndryl by 33.7% during the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock valued at $15,096,000 after purchasing an additional 165,481 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after purchasing an additional 76,670 shares during the period. Finally, FMR LLC increased its stake in shares of Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kyndryl Price Performance

Shares of NYSE:KD opened at $37.86 on Wednesday. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $39.47. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a market cap of $8.79 billion, a P/E ratio of -97.07, a P/E/G ratio of 8.51 and a beta of 1.85. The company has a 50 day moving average of $32.19 and a 200 day moving average of $27.16.

Kyndryl Company 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.