Bank of Montreal Can Sells 122,626 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Bank of Montreal Can lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,356 shares of the company's stock after selling 122,626 shares during the quarter. Bank of Montreal Can's holdings in Kyndryl were worth $1,500,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in shares of Kyndryl by 4.5% in the third quarter. HighTower Advisors LLC now owns 29,677 shares of the company's stock valued at $666,000 after purchasing an additional 1,268 shares during the last quarter. Stifel Financial Corp increased its position in shares of Kyndryl by 126.3% in the third quarter. Stifel Financial Corp now owns 91,598 shares of the company's stock valued at $2,105,000 after acquiring an additional 51,117 shares during the last quarter. Barclays PLC grew its stake in Kyndryl by 49.2% in the third quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after purchasing an additional 84,347 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kyndryl by 1.7% during 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 during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Kyndryl during the 3rd quarter worth approximately $237,000. Institutional investors own 71.53% of the company's stock.

Analyst Upgrades and Downgrades

KD has been the subject of several analyst reports. Oppenheimer raised their target price on shares of Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Susquehanna lowered their price objective on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research note on Wednesday.

Insider Activity

In related news, 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

Kyndryl Stock Performance

Kyndryl stock traded up $1.97 during mid-day trading on Wednesday, hitting $31.80. 310,862 shares of the company's stock traded hands, compared to its average volume of 2,482,694. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $33.18. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 57.82, a P/E/G ratio of 10.84 and a beta of 1.91.

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.