Kyndryl (NYSE:KD) Hits New 12-Month High After Analyst Upgrade

Shares of Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high during mid-day trading on Tuesday after Susquehanna raised their price target on the stock from $40.00 to $46.00. Susquehanna currently has a positive rating on the stock. Kyndryl traded as high as $39.74 and last traded at $39.68, with a volume of 2769047 shares trading hands. The stock had previously closed at $37.96.

Several other equities research analysts have also recently weighed in on the company. Bank of America began coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company. Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday.

Institutional Investors Weigh In On Kyndryl

A number of hedge funds and other institutional investors have recently bought and sold shares of KD. FMR LLC boosted its stake in shares of Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC grew its holdings in Kyndryl by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after acquiring an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. Zimmer Partners LP grew its stake in shares of Kyndryl by 1.9% in the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock worth $62,595,000 after purchasing an additional 49,738 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after purchasing an additional 232,583 shares during the period. Institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

The company has a fifty day simple moving average of $36.57 and a 200 day simple moving average of $28.93. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of -111.27, a P/E/G ratio of 11.00 and a beta of 1.86. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03.

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.