Martingale Asset Management L P Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Martingale Asset Management L P cut its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 37.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,404 shares of the company's stock after selling 33,123 shares during the period. Martingale Asset Management L P's holdings in Kyndryl were worth $1,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. FMR LLC grew its position in Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company's stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP grew its position in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock worth $74,894,000 after acquiring an additional 1,254,208 shares during the period. Renaissance Technologies LLC grew its position in Kyndryl by 32.3% in the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock worth $72,768,000 after acquiring an additional 675,800 shares during the period. Royce & Associates LP grew its position in Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company's stock worth $60,744,000 after acquiring an additional 232,583 shares during the period. Finally, Cortland Associates Inc. MO grew its position in Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company's stock worth $49,421,000 after acquiring an additional 565,263 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Down 1.9 %

Kyndryl stock traded down $0.65 during midday trading on Monday, reaching $34.06. The company's stock had a trading volume of 2,909,267 shares, compared to its average volume of 1,758,683. The business has a 50-day simple moving average of $26.09 and a 200-day simple moving average of $25.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl Holdings, Inc. has a fifty-two week low of $18.05 and a fifty-two week high of $35.23. The company has a market cap of $7.91 billion, a P/E ratio of -89.00, a P/E/G ratio of 8.36 and a beta of 1.63.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KD shares. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target for the company. Susquehanna raised their price target on Kyndryl from $33.00 to $40.00 and gave the stock a "positive" rating in a research report on Friday, November 22nd. Finally, Oppenheimer raised their price target on Kyndryl from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $33.00.

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.