Kyndryl (NYSE:KD) Trading 8% Higher After Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price traded up 8% during mid-day trading on Wednesday 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 $43.19 and last traded at $43.12. 3,183,221 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 2,592,951 shares. The stock had previously closed at $39.92.

Several other research firms have also recently weighed in on KD. Bank of America assumed coverage on Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company. Oppenheimer upped their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday.

Institutional Trading of Kyndryl

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its stake in Kyndryl by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock valued at $1,037,000 after buying an additional 312 shares during the period. Louisiana State Employees Retirement System raised its stake in Kyndryl by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock valued at $2,232,000 after buying an additional 400 shares during the period. UMB Bank n.a. grew its position in shares of Kyndryl by 27.1% in the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock valued at $66,000 after purchasing an additional 408 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Kyndryl by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after purchasing an additional 422 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Kyndryl by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 47,226 shares of the company’s stock valued at $1,634,000 after purchasing an additional 428 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Down 1.3 %

The firm has a 50-day moving average price of $36.57 and a 200 day moving average price of $28.93. 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 has a market cap of $9.97 billion, a price-to-earnings ratio of -110.01, a P/E/G ratio of 11.00 and a beta of 1.86.

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.