Sky Investment Group LLC Grows Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Sky Investment Group LLC increased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,335 shares of the company’s stock after purchasing an additional 9,240 shares during the quarter. Sky Investment Group LLC’s holdings in Kyndryl were worth $3,056,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Kyndryl by 35.1% during 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. Westfield Capital Management Co. LP boosted 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 buying an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in Kyndryl in the 3rd quarter valued at $20,213,000. Cortland Associates Inc. MO increased its stake in shares of Kyndryl by 35.7% in the 3rd 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kyndryl by 166.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock worth $19,284,000 after acquiring an additional 524,168 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

Kyndryl Stock Performance

Shares of KD stock opened at $38.29 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $8.89 billion, a P/E ratio of -98.16, a P/E/G ratio of 9.30 and a beta of 1.85. The firm’s 50 day moving average price is $34.53 and its 200-day moving average price is $27.89. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $39.47.

Analyst Ratings Changes

Several research firms recently issued reports on KD. Bank of America initiated coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company. Susquehanna lifted their price target 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. Finally, Oppenheimer increased their price objective on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

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.