Bridgewater Associates LP Purchases 46,326 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Bridgewater Associates LP increased its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 37.7% in the third quarter, Holdings Channel reports. The fund owned 169,066 shares of the company’s stock after purchasing an additional 46,326 shares during the quarter. Bridgewater Associates LP’s holdings in Kyndryl were worth $3,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KD. Quantbot Technologies LP purchased a new stake in shares of Kyndryl in the 3rd quarter worth approximately $1,910,000. FMR LLC lifted its holdings in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after buying an additional 1,569,260 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Kyndryl by 25.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 65,671 shares of the company’s stock worth $1,509,000 after buying an additional 13,392 shares during the period. Westfield Capital Management Co. LP lifted its holdings 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 period. Finally, Cerity Partners LLC increased its holdings in shares of Kyndryl by 151.3% in the 3rd quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock valued at $740,000 after acquiring an additional 19,377 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KD has been the subject of several recent research reports. Oppenheimer boosted their price target on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Susquehanna boosted their target price on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Finally, Bank of America began coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.00.

Kyndryl Trading Down 0.3 %

Shares of NYSE:KD opened at $34.71 on Friday. 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 has a market capitalization of $8.06 billion, a P/E ratio of -89.00, a P/E/G ratio of 8.39 and a beta of 1.63. The business’s 50-day moving average is $26.09 and its 200 day moving average is $25.54. Kyndryl Holdings, Inc. has a 1 year low of $17.78 and a 1 year high of $35.23.

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.