Douglas Lane & Associates LLC Decreases Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Douglas Lane & Associates LLC trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 999,286 shares of the company's stock after selling 19,309 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.43% of Kyndryl worth $34,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new stake in shares of Kyndryl in the third quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings in Kyndryl by 44.2% in the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company's stock worth $35,000 after purchasing an additional 462 shares in the last quarter. Headlands Technologies LLC increased its stake in shares of Kyndryl by 60.2% in the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company's stock valued at $39,000 after buying an additional 554 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Kyndryl during the second quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Kyndryl by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock worth $44,000 after purchasing an additional 422 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KD has been the topic of a number of research analyst reports. Bank of America started coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target on the stock. Susquehanna upped their price objective 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, Oppenheimer raised their target price on Kyndryl from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $34.60.

Kyndryl Price Performance

Shares of Kyndryl stock traded down $0.07 on Wednesday, hitting $37.78. 2,422,249 shares of the company traded hands, compared to its average volume of 3,476,251. The company has a market cap of $8.78 billion, a P/E ratio of -96.87, a P/E/G ratio of 8.51 and a beta of 1.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $39.47. The firm's 50-day simple moving average is $32.19 and its 200 day simple moving average is $27.16.

Kyndryl Company 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.