Kyndryl (NYSE:KD) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of Kyndryl (NYSE:KD) in a research report report published on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $40.00 price objective on the stock.

Kyndryl Stock Performance

Shares of KD opened at $33.92 on Friday. The business’s fifty day simple moving average is $24.99 and its two-hundred day simple moving average is $25.24. The company has a market cap of $7.88 billion, a price-to-earnings ratio of -86.28, a P/E/G ratio of 7.96 and a beta of 1.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. Kyndryl has a 12 month low of $17.64 and a 12 month high of $34.33.

Hedge Funds Weigh In On Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the company. Westfield Capital Management Co. LP raised its holdings in Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after purchasing an additional 1,254,208 shares during the period. Tidal Investments LLC increased its stake in 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 purchased a new stake in Kyndryl in the 2nd quarter worth $1,418,000. Acadian Asset Management LLC purchased a new stake in Kyndryl in the 1st quarter worth $26,000. Finally, International Assets Investment Management LLC increased its stake in Kyndryl by 2,035.3% in the 3rd quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock worth $921,000 after buying an additional 38,222 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

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.