The Manufacturers Life Insurance Company Cuts Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

The Manufacturers Life Insurance Company cut its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 3.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 194,237 shares of the company’s stock after selling 6,161 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kyndryl were worth $4,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westfield Capital Management Co. LP raised 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 valued at $74,894,000 after acquiring an additional 1,254,208 shares during the period. Great Lakes Advisors LLC acquired a new stake in Kyndryl in the 2nd quarter valued at $19,996,000. Renaissance Technologies LLC raised 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 valued at $72,768,000 after purchasing an additional 675,800 shares during the period. Cortland Associates Inc. MO lifted its stake in shares of Kyndryl by 35.7% during the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after purchasing an additional 565,263 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kyndryl by 166.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock worth $19,284,000 after buying an additional 524,168 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kyndryl Price Performance

KD stock opened at $34.49 on Friday. The stock’s 50 day moving average is $27.24 and its two-hundred day moving average is $25.77. Kyndryl Holdings, Inc. has a 52-week low of $18.05 and a 52-week high of $35.23. The company has a market capitalization of $8.01 billion, a PE ratio of -88.44, a P/E/G ratio of 8.38 and a beta of 1.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

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.