Commonwealth Equity Services LLC Increases Position in Kyndryl Holdings, Inc. (NYSE:KD)

Commonwealth Equity Services LLC boosted its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,341 shares of the company’s stock after purchasing an additional 19,088 shares during the period. Commonwealth Equity Services LLC’s holdings in Kyndryl were worth $2,053,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Kyndryl by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after acquiring an additional 76,670 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Kyndryl by 151.3% during the third quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock worth $740,000 after purchasing an additional 19,377 shares during the last quarter. FMR LLC grew its stake in 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. Quantbot Technologies LP acquired a new position in Kyndryl in the third quarter worth about $1,910,000. Finally, Bridgewater Associates LP increased its holdings in Kyndryl by 37.7% in the third quarter. Bridgewater Associates LP now owns 169,066 shares of the company’s stock valued at $3,885,000 after buying an additional 46,326 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insider Buying and Selling

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

KD has been the subject of several research reports. Oppenheimer lifted their target price on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Susquehanna lifted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th.

Kyndryl Stock Performance

Shares of NYSE KD opened at $32.38 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm’s 50-day moving average price is $37.81 and its two-hundred day moving average price is $32.23. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61. The stock has a market capitalization of $7.53 billion, a P/E ratio of 58.86, a P/E/G ratio of 10.84 and a beta of 1.85.

About Kyndryl

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.