Fmr LLC Purchases 1,569,260 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Fmr LLC lifted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 35.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,036,908 shares of the company’s stock after acquiring an additional 1,569,260 shares during the quarter. Fmr LLC owned approximately 2.60% of Kyndryl worth $138,728,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KD. Dynamic Technology Lab Private Ltd raised its holdings in Kyndryl by 25.6% during 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 grew its position in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Kyndryl by 151.3% during the 3rd quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock valued at $740,000 after purchasing an additional 19,377 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Kyndryl by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after purchasing an additional 76,670 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kyndryl by 166.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock worth $19,284,000 after purchasing an additional 524,168 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 2.1 %

Shares of KD opened at $34.78 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl Holdings, Inc. has a 1-year low of $18.05 and a 1-year high of $35.23. The company has a market capitalization of $8.08 billion, a P/E ratio of -89.18, a P/E/G ratio of 8.21 and a beta of 1.86. The firm’s 50 day simple moving average is $26.53 and its 200 day simple moving average is $25.60.

Wall Street Analyst Weigh In

KD has been the topic of several analyst reports. Oppenheimer upped their price target on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Susquehanna upped their target price on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Finally, 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 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.00.

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.