UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 56,277 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 613,693 shares of the company's stock after selling 56,277 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.26% of Kyndryl worth $14,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company's stock valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock worth $74,894,000 after buying an additional 1,254,208 shares during the last quarter. Renaissance Technologies LLC increased its position in Kyndryl by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock valued at $72,768,000 after buying an additional 675,800 shares in the last quarter. Royce & Associates LP raised its stake in Kyndryl by 9.6% during the third 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. Finally, Cortland Associates Inc. MO boosted its holdings 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 in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Performance

KD stock traded down $0.16 on Friday, hitting $34.51. The company had a trading volume of 1,275,258 shares, compared to its average volume of 2,810,716. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of -88.48, a P/E/G ratio of 8.39 and a beta of 1.86. 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's 50-day simple moving average is $27.24 and its 200 day simple moving average is $25.76. Kyndryl Holdings, Inc. has a 12-month low of $18.05 and a 12-month high of $35.23.

Analysts Set New Price Targets

KD has been the subject of several analyst reports. Susquehanna raised their price target on Kyndryl from $33.00 to $40.00 and gave the company a "positive" rating in a report on Friday, November 22nd. Bank of America assumed coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Finally, Oppenheimer increased their price target on shares of Kyndryl from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price 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.