Blue Trust Inc. Boosts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Blue Trust Inc. lifted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 244.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,935 shares of the company’s stock after acquiring an additional 10,601 shares during the period. Blue Trust Inc.’s holdings in Kyndryl were worth $517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock worth $80,000 after purchasing an additional 496 shares during the last quarter. Cottonwood Capital Advisors LLC bought a new stake in Kyndryl in the 4th quarter worth approximately $249,000. Dakota Wealth Management purchased a new stake in Kyndryl in the fourth quarter worth approximately $1,221,000. ARS Investment Partners LLC purchased a new stake in Kyndryl in the fourth quarter worth approximately $204,000. Finally, Sky Investment Group LLC grew its position in Kyndryl by 11.7% during the fourth quarter. Sky Investment Group LLC now owns 88,335 shares of the company’s stock valued at $3,056,000 after acquiring an additional 9,240 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Susquehanna upped 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, Bank of America started coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock.

Kyndryl Stock Performance

NYSE:KD opened at $37.67 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $39.54. The firm has a market cap of $8.75 billion, a PE ratio of -96.59, a price-to-earnings-growth ratio of 10.59 and a beta of 1.85. The business has a 50 day moving average price of $36.11 and a 200-day moving average price of $28.57.

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.