Douglas Lane & Associates LLC Decreases Position in Kyndryl Holdings, Inc. (NYSE:KD)

Douglas Lane & Associates LLC trimmed its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999,286 shares of the company’s stock after selling 19,309 shares during the quarter. Douglas Lane & Associates LLC owned 0.43% of Kyndryl worth $34,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KD. ORG Wealth Partners LLC purchased a new position in shares of Kyndryl in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake in shares of Kyndryl by 44.2% during the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after buying an additional 462 shares during the period. Headlands Technologies LLC increased its position in shares of Kyndryl by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after acquiring an additional 554 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Kyndryl in the 2nd quarter worth $39,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Kyndryl by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after acquiring an additional 422 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KD shares. Susquehanna raised their price objective on Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, November 22nd. Oppenheimer raised their price target on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Bank of America initiated coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $34.60.

Kyndryl Stock Performance

NYSE:KD traded up $0.19 during trading hours on Wednesday, reaching $38.04. The company had a trading volume of 1,198,585 shares, compared to its average volume of 3,220,543. 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 $19.24 and a 1-year high of $39.47. The business’s 50 day moving average price is $32.19 and its 200-day moving average price is $27.16. The firm has a market cap of $8.84 billion, a PE ratio of -97.54, a price-to-earnings-growth ratio of 8.51 and a beta of 1.85.

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.