Analysts Set Kyndryl Holdings, Inc. (NYSE:KD) Price Target at $29.40

Shares of Kyndryl Holdings, Inc. (NYSE:KD) have received an average recommendation of “Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.40.

Several equities analysts have recently issued reports on KD shares. Oppenheimer started coverage on shares of Kyndryl in a research note on Thursday, June 27th. They set an “outperform” rating and a $33.00 price target for the company. Susquehanna lifted their target price on shares of Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, May 9th. Finally, Scotiabank lifted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 13th.

Kyndryl Price Performance

KD stock opened at $23.64 on Friday. The company has a fifty day moving average price of $25.48 and a 200-day moving average price of $23.65. The company has a market capitalization of $5.45 billion, a P/E ratio of -15.87, a PEG ratio of 4.71 and a beta of 1.67. Kyndryl has a 52-week low of $13.87 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.03 and a current ratio of 1.03.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of Kyndryl stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the sale, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Kyndryl

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Kyndryl by 0.3% in the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after purchasing an additional 81,826 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Kyndryl by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,666,365 shares of the company’s stock valued at $200,873,000 after purchasing an additional 190,062 shares in the last quarter. Greenlight Capital Inc. increased its stake in Kyndryl by 13.7% in the fourth quarter. Greenlight Capital Inc. now owns 6,356,069 shares of the company’s stock valued at $132,079,000 after purchasing an additional 767,943 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company’s stock valued at $72,768,000 after buying an additional 675,800 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Kyndryl during the fourth quarter valued at about $54,283,000. 71.53% of the stock is owned by institutional investors.

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.