Cerity Partners LLC Boosts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Cerity Partners LLC raised its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 151.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 32,187 shares of the company's stock after purchasing an additional 19,377 shares during the period. Cerity Partners LLC's holdings in Kyndryl were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KD. Renaissance Technologies LLC raised its holdings in shares of Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock valued at $72,768,000 after purchasing an additional 675,800 shares during the last quarter. Royce & Associates LP increased its stake in Kyndryl by 9.6% in the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company's stock valued at $60,744,000 after buying an additional 232,583 shares during the last quarter. Cortland Associates Inc. MO lifted its position in shares of Kyndryl by 35.7% during the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company's stock worth $49,421,000 after buying an additional 565,263 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Kyndryl by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company's stock worth $55,321,000 after buying an additional 158,160 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kyndryl by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company's stock valued at $45,229,000 after acquiring an additional 76,670 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on KD shares. Susquehanna lifted 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 lifted their target price on Kyndryl from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Finally, Bank of America began coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kyndryl presently has an average rating of "Buy" and an average price target of $33.00.

Kyndryl Stock Performance

Shares of KD traded down $0.16 during mid-day trading on Friday, hitting $34.51. The stock had a trading volume of 1,275,258 shares, compared to its average volume of 2,810,716. 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 firm has a market cap of $8.02 billion, a P/E ratio of -88.48, a PEG ratio of 8.39 and a beta of 1.86. Kyndryl Holdings, Inc. has a 52 week low of $18.05 and a 52 week high of $35.23. The business has a fifty day moving average price of $27.24 and a 200-day moving average price of $25.76.

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.