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

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) hit a new 52-week high during 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 changing hands. The stock had previously closed at $42.63.

Several other equities analysts have also recently issued reports on the company. Wall Street Zen raised Kyndryl from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Susquehanna reduced their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were 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 in the company, valued at approximately $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Kyndryl

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Kyndryl by 15.1% in the 4th quarter. American Century Companies Inc. now owns 372,642 shares of the company's stock worth $12,893,000 after purchasing an additional 48,809 shares during the period. GAMMA Investing LLC increased its position in shares of Kyndryl by 44.1% in the first quarter. GAMMA Investing LLC now owns 4,322 shares of the company's stock valued at $136,000 after buying an additional 1,323 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Kyndryl by 121.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,750 shares of the company's stock worth $652,000 after buying an additional 11,395 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Kyndryl during the 4th quarter worth approximately $11,359,000. Finally, Fifth Third Bancorp lifted its position in shares of Kyndryl by 35.5% during the 1st quarter. Fifth Third Bancorp now owns 3,114 shares of the company's stock valued at $98,000 after buying an additional 815 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Down 4.3%

The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 0.93 and a beta of 1.93. The business's 50 day moving average is $39.93 and its 200-day moving average is $37.00. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07.

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