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

Bridgewater Associates LP raised its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 37.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,066 shares of the company’s stock after buying an additional 46,326 shares during the quarter. Bridgewater Associates LP owned about 0.07% of Kyndryl worth $3,885,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KD. Westfield Capital Management Co. LP grew its holdings in shares of Kyndryl by 62.6% in 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 purchasing an additional 1,254,208 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Kyndryl by 240.7% in the 1st quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after buying an additional 39,408 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Kyndryl in the 2nd quarter worth about $1,418,000. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 38,222 shares in the last quarter. Finally, Hilton Capital Management LLC lifted its holdings in shares of Kyndryl by 19.5% in 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 during the last quarter. Institutional investors own 71.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on 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 note on Friday, November 22nd. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Oppenheimer raised 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Kyndryl Price Performance

KD opened at $34.71 on Friday. The business has a fifty day moving average of $26.09 and a 200 day moving average of $25.54. The stock has a market cap of $8.06 billion, a P/E ratio of -89.00, a PEG ratio of 8.39 and a beta of 1.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl Holdings, Inc. has a 52-week low of $17.78 and a 52-week high of $35.23.

About Kyndryl

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.