Kyndryl (NYSE:KD) Reaches New 1-Year High After Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $37.00 to $43.00. Oppenheimer currently has an outperform rating on the stock. Kyndryl traded as high as $39.74 and last traded at $39.68, with a volume of 2769047 shares. The stock had previously closed at $37.96.

Several other analysts also recently issued reports on KD. Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company. Susquehanna boosted their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research note on Friday, November 22nd.

Institutional Trading of Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of Kyndryl by 56.4% in the fourth quarter. IFP Advisors Inc now owns 2,457 shares of the company’s stock valued at $85,000 after buying an additional 886 shares during the period. Cohen Capital Management Inc. bought a new position in shares of Kyndryl during the fourth quarter valued at $256,000. Allianz Asset Management GmbH lifted its holdings in shares of Kyndryl by 5.6% during the fourth quarter. Allianz Asset Management GmbH now owns 719,402 shares of the company’s stock worth $24,891,000 after purchasing an additional 38,291 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Kyndryl by 5.1% in the fourth quarter. Handelsbanken Fonder AB now owns 59,500 shares of the company’s stock worth $2,059,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Kyndryl during the 4th quarter worth $3,503,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 4.5 %

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’s fifty day moving average is $36.28 and its 200-day moving average is $28.74. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -101.75, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86.

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.