Kyndryl Holdings, Inc. (NYSE:KD) Given Average Rating of “Buy” by Brokerages

Kyndryl Holdings, Inc. (NYSE:KD) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.40.

KD has been the topic of a number of research reports. Scotiabank raised their price target on shares of Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Monday, May 13th. Susquehanna raised their target price on Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Finally, Oppenheimer initiated coverage on Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price target on the stock.

Kyndryl Stock Down 0.7 %

Kyndryl stock opened at $23.32 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $5.38 billion, a PE ratio of -15.65, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67. The business has a 50 day simple moving average of $25.30 and a 200-day simple moving average of $23.69. Kyndryl has a 12 month low of $13.87 and a 12 month high of $28.60.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.23%. On average, analysts anticipate that Kyndryl will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at approximately $2,075,111.92. The sale 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.

Hedge Funds Weigh In On Kyndryl

A number of institutional investors have recently added to or reduced their stakes in KD. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Kyndryl by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after buying an additional 422 shares during the last quarter. Simplicity Wealth LLC raised its position in Kyndryl by 3.0% in the second quarter. Simplicity Wealth LLC now owns 15,745 shares of the company’s stock valued at $414,000 after purchasing an additional 454 shares during the period. Headlands Technologies LLC lifted its stake in shares of Kyndryl by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after purchasing an additional 554 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Kyndryl by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 57,493 shares of the company’s stock worth $1,513,000 after purchasing an additional 563 shares during the period. Finally, Alpha Omega Wealth Management LLC increased its position in shares of Kyndryl by 0.8% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock worth $2,074,000 after purchasing an additional 730 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

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.