Kyndryl Holdings, Inc. (NYSE:KD) Stock Position Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 20.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 452,117 shares of the company's stock after selling 117,209 shares during the period. JPMorgan Chase & Co. owned about 0.19% of Kyndryl worth $10,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Kyndryl by 1.7% during the second quarter. Victory Capital Management Inc. now owns 47,132 shares of the company's stock worth $1,240,000 after purchasing an additional 804 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Kyndryl by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company's stock worth $39,000 after acquiring an additional 554 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Kyndryl by 3.8% in the 2nd quarter. Federated Hermes Inc. now owns 36,271 shares of the company's stock valued at $954,000 after acquiring an additional 1,328 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Kyndryl by 46.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,153 shares of the company's stock valued at $451,000 after acquiring an additional 5,406 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock worth $72,768,000 after purchasing an additional 675,800 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KD shares. Bank of America assumed coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a "buy" rating and a $40.00 price target on the stock. Oppenheimer lifted 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, Susquehanna raised 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.

Kyndryl Stock Performance

KD traded down $0.01 during trading hours on Monday, hitting $36.73. The company's stock had a trading volume of 648,421 shares, compared to its average volume of 2,855,729. The company has a 50-day simple moving average of $33.05 and a 200 day simple moving average of $27.41. 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 firm has a market capitalization of $8.53 billion, a PE ratio of -94.18, a PEG ratio of 8.51 and a beta of 1.85. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $39.47.

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.