Wilmington Savings Fund Society FSB Invests $171,000 in Kyndryl Holdings, Inc. (NYSE:KD)

Wilmington Savings Fund Society FSB bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,450 shares of the company’s stock, valued at approximately $171,000.

Several other institutional investors and hedge funds have also modified their holdings of 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 worth $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Kyndryl by 33.7% in the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock valued at $15,096,000 after purchasing an additional 165,481 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kyndryl by 4.1% in the third 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 in the last quarter. FMR LLC raised its position in Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings 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 buying an additional 19,377 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Down 3.6 %

NYSE:KD opened at $34.10 on Thursday. 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 Holdings, Inc. has a 12-month low of $19.19 and a 12-month high of $36.43. The stock’s fifty day simple moving average is $28.93 and its 200-day simple moving average is $26.15. The firm has a market capitalization of $7.92 billion, a P/E ratio of -87.43, a P/E/G ratio of 8.62 and a beta of 1.86.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna lifted their target price on Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research note on Friday, November 22nd. Oppenheimer raised their price target on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Bank of America began coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $34.60.

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.