Edgestream Partners L.P. Cuts Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. trimmed its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,748 shares of the company’s stock after selling 24,692 shares during the period. Edgestream Partners L.P.’s holdings in Kyndryl were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Westfield Capital Management Co. LP boosted its holdings in shares of Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the period. Tidal Investments LLC lifted its holdings in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after purchasing an additional 39,408 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Kyndryl in the second quarter worth about $1,418,000. International Assets Investment Management LLC raised its stake in Kyndryl by 2,035.3% during the 3rd quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock valued at $921,000 after purchasing an additional 38,222 shares during the period. Finally, Hilton Capital Management LLC grew its stake in Kyndryl by 19.5% during the 3rd quarter. Hilton Capital Management LLC now owns 127,562 shares of the company’s stock valued at $2,931,000 after acquiring an additional 20,806 shares in the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Down 1.9 %

Shares of KD stock opened at $34.06 on Tuesday. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -87.33, a P/E/G ratio of 8.36 and a beta of 1.63. The firm has a fifty day moving average of $26.30 and a 200-day moving average of $25.55. Kyndryl Holdings, Inc. has a 12-month low of $18.05 and a 12-month high of $35.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Wall Street Analyst Weigh In

KD has been the subject of a number of recent research reports. Bank of America began coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Susquehanna boosted their price objective on Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, November 22nd. Finally, Oppenheimer raised their price target on shares of Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Kyndryl currently has an average rating of “Buy” and an average price target of $33.00.

Kyndryl Company 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.