Money Concepts Capital Corp Trims Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Money Concepts Capital Corp lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 reporting period.

A number of other large investors have also recently modified their holdings of the business. FMR LLC increased its stake in Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after acquiring an additional 1,569,260 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kyndryl by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after purchasing an additional 63,997 shares in the last quarter. Westfield Capital Management Co. LP increased 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 purchasing an additional 1,254,208 shares during the last quarter. Zimmer Partners LP raised its holdings in shares of Kyndryl by 1.9% during the 3rd quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after buying an additional 49,738 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Kyndryl by 9.6% in the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock worth $60,744,000 after buying an additional 232,583 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

Kyndryl stock opened at $43.40 on Thursday. 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 firm has a market cap of $10.08 billion, a P/E ratio of -111.27, a P/E/G ratio of 11.00 and a beta of 1.86. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The firm has a 50-day moving average of $36.57 and a 200-day moving average of $28.93.

Wall Street Analyst Weigh In

Several research analysts have commented on KD shares. Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target on the stock. Oppenheimer lifted their target price on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Susquehanna upped 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.

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.