Kyndryl (NYSE:KD) Sets New 52-Week High – Should You Buy?

Kyndryl Holdings, Inc. (NYSE:KD) shares hit a new 52-week high on Wednesday . The company traded as high as $39.47 and last traded at $39.20, with a volume of 1165 shares traded. The stock had previously closed at $39.13.

Analysts Set New Price Targets

A number of brokerages have commented on KD. 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 note on Friday, November 22nd. Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Finally, Oppenheimer upped their price objective on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd.

Kyndryl Stock Performance

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 company’s 50-day moving average price is $34.95 and its two-hundred day moving average price is $28.06.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors have recently made changes to their positions in KD. Chicago Partners Investment Group LLC acquired a new position in Kyndryl in the 4th quarter valued at $254,000. Mediolanum International Funds Ltd bought a new position in Kyndryl during the fourth quarter worth about $16,856,000. Pacer Advisors Inc. raised its stake in Kyndryl by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 76,380 shares of the company’s stock worth $2,643,000 after purchasing an additional 3,081 shares in the last quarter. KBC Group NV boosted its holdings in Kyndryl by 57.5% in the 4th quarter. KBC Group NV now owns 10,145 shares of the company’s stock valued at $351,000 after purchasing an additional 3,702 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Kyndryl by 244.6% during the 4th quarter. Blue Trust Inc. now owns 14,935 shares of the company’s stock worth $517,000 after purchasing an additional 10,601 shares in the last quarter. Institutional investors own 71.53% of the company’s stock.

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.