Kyndryl Holdings, Inc. (NYSE:KD) is Cortland Associates Inc. MO’s Largest Position

Cortland Associates Inc. MO cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,123,721 shares of the company’s stock after selling 26,893 shares during the quarter. Kyndryl comprises 8.4% of Cortland Associates Inc. MO’s portfolio, making the stock its biggest position. Cortland Associates Inc. MO’s holdings in Kyndryl were worth $73,481,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Kyndryl during the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kyndryl during the second quarter worth about $39,000. UMB Bank n.a. increased its stake in Kyndryl by 44.2% during the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after purchasing an additional 462 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after buying an additional 422 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of 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 buying an additional 496 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 0.2 %

NYSE:KD opened at $38.34 on Thursday. 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 fifty-two week low of $19.24 and a fifty-two week high of $39.54. The firm’s 50 day moving average is $36.00 and its two-hundred day moving average is $28.50.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KD. Oppenheimer upped their price target on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. 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 target price on the stock. Finally, Susquehanna increased 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.

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.