Kyndryl (NYSE:KD) Sets New 12-Month High Following Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $47.00 to $55.00. Oppenheimer currently has an outperform rating on the stock. Kyndryl traded as high as $44.20 and last traded at $43.42, with a volume of 2347004 shares traded. The stock had previously closed at $42.63.

A number of other equities analysts also recently commented on the company. Susquehanna dropped their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Kyndryl from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the sale, the senior vice president owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Kyndryl

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in Kyndryl by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,134 shares of the company's stock worth $178,000 after buying an additional 1,065 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Kyndryl by 6.2% during the fourth quarter. M&T Bank Corp now owns 13,656 shares of the company's stock valued at $472,000 after acquiring an additional 803 shares during the period. Proficio Capital Partners LLC bought a new stake in Kyndryl during the 4th quarter worth about $515,000. Raymond James Financial Inc. acquired a new position in Kyndryl during the 4th quarter valued at about $11,359,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Kyndryl by 41.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 35,148 shares of the company's stock valued at $1,216,000 after purchasing an additional 10,283 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Performance

The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 0.96 and a beta of 1.93. The firm's 50-day moving average price is $39.80 and its 200 day moving average price is $36.97.

Kyndryl (NYSE:KD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current year.

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.