Quantbot Technologies LP Takes $1.91 Million Position in Kyndryl Holdings, Inc. (NYSE:KD)

Quantbot Technologies LP bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the third quarter, Holdings Channel reports. The institutional investor bought 83,095 shares of the company’s stock, valued at approximately $1,910,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its stake in Kyndryl by 35.1% in 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 during the period. Dynamic Technology Lab Private Ltd increased its position in Kyndryl by 25.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 65,671 shares of the company’s stock valued at $1,509,000 after acquiring an additional 13,392 shares during the period. Westfield Capital Management Co. LP raised its stake in Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. Cerity Partners LLC lifted its position in Kyndryl by 151.3% during the 3rd quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock worth $740,000 after acquiring an additional 19,377 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after purchasing an additional 76,670 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

NYSE:KD opened at $34.82 on Friday. The stock has a market cap of $8.09 billion, a PE ratio of -89.28, a price-to-earnings-growth ratio of 8.17 and a beta of 1.63. Kyndryl Holdings, Inc. has a fifty-two week low of $17.64 and a fifty-two week high of $34.95. The firm’s fifty day simple moving average is $25.66 and its 200-day simple moving average is $25.41. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Analyst Ratings Changes

KD has been the subject of several analyst reports. Susquehanna upped their price target on Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, November 22nd. Bank of America began coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company. Finally, Oppenheimer lifted their target price 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Kyndryl 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.