Cortland Associates Inc. MO Reduces Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Cortland Associates Inc. MO decreased its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,123,721 shares of the company's stock after selling 26,893 shares during the quarter. Kyndryl accounts for about 8.4% of Cortland Associates Inc. MO's investment portfolio, making the stock its largest holding. Cortland Associates Inc. MO owned 0.91% of Kyndryl worth $73,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in shares of Kyndryl in the third quarter worth $29,000. UMB Bank n.a. grew its stake in Kyndryl by 44.2% during the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company's stock valued at $35,000 after acquiring an additional 462 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Kyndryl during the second quarter worth approximately $39,000. Northwestern Mutual Wealth Management Co. grew its position in Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock valued at $44,000 after purchasing an additional 422 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Kyndryl by 27.5% in the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock valued at $80,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Down 1.9 %

NYSE:KD traded down $0.72 during trading hours on Thursday, reaching $37.66. The company's stock had a trading volume of 2,106,335 shares, compared to its average volume of 2,342,098. 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 company has a market cap of $8.75 billion, a price-to-earnings ratio of -96.95, a price-to-earnings-growth ratio of 10.59 and a beta of 1.85. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $39.54. The business's 50-day moving average is $36.00 and its 200-day moving average is $28.50.

Wall Street Analyst Weigh In

KD has been the subject of a number of research reports. Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target on the stock. Susquehanna boosted their target price on Kyndryl from $33.00 to $40.00 and gave the company a "positive" rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their target price on Kyndryl from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd.

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.