Kyndryl (NYSE:KD) Sets New 52-Week High After Analyst Upgrade

Shares of Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) reached a new 52-week high 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 research analysts have also recently commented on KD. Susquehanna reduced their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Kyndryl from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Kyndryl

Several large investors have recently modified their holdings of the stock. Atticus Wealth Management LLC raised its position in shares of Kyndryl by 27,708.3% in the 2nd quarter. Atticus Wealth Management LLC now owns 3,337 shares of the company's stock worth $140,000 after purchasing an additional 3,325 shares during the last quarter. Wedmont Private Capital raised its position in Kyndryl by 4.7% in the 2nd quarter. Wedmont Private Capital now owns 18,856 shares of the company's stock worth $808,000 after buying an additional 844 shares during the last quarter. Parallel Advisors LLC raised its position in Kyndryl by 18.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,683 shares of the company's stock worth $155,000 after buying an additional 564 shares during the last quarter. Voya Investment Management LLC raised its position in Kyndryl by 56.2% in the 1st quarter. Voya Investment Management LLC now owns 71,664 shares of the company's stock worth $2,250,000 after buying an additional 25,784 shares during the last quarter. Finally, Compass Financial Services Inc purchased a new position in Kyndryl in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Trading Down 2.9%

The stock has a 50-day simple moving average of $39.62 and a two-hundred day simple moving average of $36.92. 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 firm has a market cap of $9.63 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.93.

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

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.