Kyndryl (NYSE:KD) Sets New 1-Year High – Time to Buy?

Shares of Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.32 and last traded at $35.20, with a volume of 905304 shares traded. The stock had previously closed at $34.40.

Analyst Ratings Changes

Several research firms recently issued reports on KD. Oppenheimer raised their target price on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Susquehanna boosted their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Finally, Bank of America assumed coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.00.

Kyndryl Stock Up 2.1 %

The firm has a market cap of $8.16 billion, a PE ratio of -88.21, a PEG ratio of 8.32 and a beta of 1.85. The business’s 50 day moving average price is $27.46 and its 200 day moving average price is $25.79. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Investors Weigh In On Kyndryl

A number of large investors have recently modified their holdings of KD. Westfield Capital Management Co. LP raised its stake in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after buying an additional 1,254,208 shares in the last quarter. FMR LLC boosted its holdings in shares of Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after purchasing an additional 76,670 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Kyndryl by 151.3% in the 3rd quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock valued at $740,000 after purchasing an additional 19,377 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Kyndryl during the second quarter worth about $1,418,000. 71.53% of the stock is owned by hedge funds and other 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.