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

Douglas Lane & Associates LLC decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 999,286 shares of the company’s stock after selling 19,309 shares during the period. Douglas Lane & Associates LLC’s holdings in Kyndryl were worth $34,575,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in KD. Westfield Capital Management Co. LP raised its stake 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 acquiring an additional 1,254,208 shares in the last quarter. Tidal Investments LLC raised its holdings in Kyndryl by 45.9% in the third quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after acquiring an additional 32,173 shares in the last quarter. National Bank of Canada FI grew its holdings in Kyndryl by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after acquiring an additional 165,481 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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. Finally, FMR LLC raised its holdings in shares of Kyndryl by 35.1% in the 3rd 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. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kyndryl Stock Performance

NYSE:KD traded up $0.19 during mid-day trading on Wednesday, reaching $38.04. 1,198,585 shares of the stock were exchanged, compared to its average volume of 3,220,543. The stock has a market capitalization of $8.84 billion, a P/E ratio of -97.54, a P/E/G ratio of 8.51 and a beta of 1.85. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $39.47. The company has a 50 day simple moving average of $32.19 and a 200-day simple moving average of $27.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

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.