Quantbot Technologies LP Invests $1.91 Million in Kyndryl Holdings, Inc. (NYSE:KD)

Quantbot Technologies LP purchased 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 (SEC). The firm purchased 83,095 shares of the company’s stock, valued at approximately $1,910,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its stake in shares of 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 acquiring an additional 1,569,260 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after purchasing an additional 1,254,208 shares during the period. Renaissance Technologies LLC raised its stake in Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock worth $72,768,000 after purchasing an additional 675,800 shares during the period. Royce & Associates LP grew its stake in shares of Kyndryl by 9.6% in the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after buying an additional 232,583 shares during the period. Finally, Cortland Associates Inc. MO grew its position in Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock worth $49,421,000 after acquiring an additional 565,263 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of KD opened at $34.82 on Friday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of -89.28, a price-to-earnings-growth ratio of 8.17 and a beta of 1.63. Kyndryl Holdings, Inc. has a 52-week low of $17.64 and a 52-week high of $34.95. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a 50 day moving average price of $25.66 and a 200 day moving average price of $25.41.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KD. Oppenheimer increased 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. Bank of America assumed coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Finally, 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.00.

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.