Fmr LLC Raises Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

FMR LLC lifted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 35.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,036,908 shares of the company's stock after purchasing an additional 1,569,260 shares during the quarter. FMR LLC owned about 2.60% of Kyndryl worth $138,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KD. ORG Wealth Partners LLC purchased a new stake in shares of Kyndryl in the third quarter valued at approximately $29,000. Headlands Technologies LLC boosted its position in Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company's stock worth $39,000 after purchasing an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kyndryl during the second quarter worth $39,000. UMB Bank n.a. boosted its position in Kyndryl by 44.2% during the third 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. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kyndryl by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock worth $44,000 after acquiring an additional 422 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Trading Up 0.1 %

NYSE:KD traded up $0.02 on Wednesday, hitting $34.80. 1,720,082 shares of the stock were exchanged, compared to its average volume of 1,760,326. Kyndryl Holdings, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $35.23. The stock has a fifty day moving average of $26.77 and a 200-day moving average of $25.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a market cap of $8.08 billion, a PE ratio of -89.23, a PEG ratio of 8.21 and a beta of 1.86.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Susquehanna boosted their price target on Kyndryl from $33.00 to $40.00 and gave the stock a "positive" rating in a report on Friday, November 22nd. Oppenheimer upped their target price on Kyndryl from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Finally, Bank of America assumed coverage on Kyndryl in a research note on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $33.00.

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.