Raymond James Financial Inc. Invests $11.36 Million in Kyndryl Holdings, Inc. (NYSE:KD)

Raymond James Financial Inc. purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 328,308 shares of the company’s stock, valued at approximately $11,359,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in Kyndryl by 1.1% during the fourth quarter. Arizona State Retirement System now owns 67,100 shares of the company’s stock worth $2,322,000 after acquiring an additional 724 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Kyndryl during the 4th quarter valued at $515,000. M&T Bank Corp raised its stake in shares of Kyndryl by 6.2% during the 4th quarter. M&T Bank Corp now owns 13,656 shares of the company’s stock worth $472,000 after purchasing an additional 803 shares during the period. Westover Capital Advisors LLC boosted its holdings in shares of Kyndryl by 2.0% in the 4th quarter. Westover Capital Advisors LLC now owns 61,783 shares of the company’s stock worth $2,138,000 after buying an additional 1,235 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. bought a new position in Kyndryl during the fourth quarter valued at about $1,421,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KD has been the topic of several research reports. Susquehanna lifted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Oppenheimer lifted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, Bank of America started coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company.

Insider Activity

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was 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 $5,688,594.94. This trade represents a 17.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction dated 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 owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Kyndryl Price Performance

NYSE KD opened at $34.23 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 company has a market cap of $7.96 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61. The firm’s 50-day simple moving average is $38.14 and its two-hundred day simple moving average is $31.84.

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.