Kyndryl Holdings, Inc. (NYSE:KD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Kyndryl Holdings, Inc. (NYSE:KD) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 3,867,873 shares of the company’s stock after acquiring an additional 63,997 shares during the quarter. Geode Capital Management LLC’s holdings in Kyndryl were worth $88,908,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Kyndryl by 6.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,910 shares of the company’s stock valued at $655,000 after purchasing an additional 1,430 shares in the last quarter. Blue Trust Inc. increased its position in Kyndryl by 68.3% during the 2nd quarter. Blue Trust Inc. now owns 3,212 shares of the company’s stock worth $85,000 after purchasing an additional 1,303 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Kyndryl in the 2nd quarter valued at about $194,000. Bank of New York Mellon Corp raised its stake in Kyndryl by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company’s stock valued at $55,321,000 after purchasing an additional 158,160 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kyndryl by 37.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,089 shares of the company’s stock valued at $1,344,000 after purchasing an additional 13,912 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kyndryl Trading Up 0.2 %

Shares of KD stock opened at $34.18 on Friday. Kyndryl Holdings, Inc. has a 1-year low of $19.19 and a 1-year high of $36.43. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day simple moving average is $29.32 and its 200-day simple moving average is $26.26. The firm has a market cap of $7.94 billion, a P/E ratio of -87.64, a PEG ratio of 8.62 and a beta of 1.86.

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.