Sterneck Capital Management LLC Sells 4,100 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Sterneck Capital Management LLC decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Westfield Capital Management Co. LP boosted its stake in 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. Tidal Investments LLC lifted its holdings in shares of Kyndryl by 45.9% in the third quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after purchasing an additional 32,173 shares in the last quarter. National Bank of Canada FI boosted its position in shares of 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 buying an additional 165,481 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 76,670 shares in the last quarter. Finally, FMR LLC raised its position in Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Trading Down 2.2 %

Shares of Kyndryl stock opened at $37.86 on Wednesday. The firm has a market cap of $8.79 billion, a PE ratio of -97.07, a P/E/G ratio of 8.51 and a beta of 1.85. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $39.47. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $32.19 and a 200-day moving average price of $27.16.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Oppenheimer lifted their price objective on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Susquehanna boosted their price target on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Finally, Bank of America began coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average 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.