Kyndryl (NYSE:KD) Reaches New 12-Month High After 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 trading hands. The stock had previously closed at $42.63.

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

Insider Activity at Kyndryl

In related news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Kyndryl

Large investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Kyndryl in the 1st quarter valued at about $27,000. True Wealth Design LLC raised its holdings in shares of Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after purchasing an additional 524 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Kyndryl during the fourth quarter valued at approximately $30,000. Quarry LP purchased a new position in Kyndryl during the first quarter valued at approximately $28,000. Finally, Hollencrest Capital Management raised its stake in Kyndryl by 637.7% in the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock worth $28,000 after buying an additional 778 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Down 1.1%

The company has a market cap of $9.93 billion, a P/E ratio of 41.65, a P/E/G ratio of 0.96 and a beta of 1.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. The business's 50 day moving average is $39.41 and its 200 day moving average is $36.88.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $3.80 billion during 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%. Kyndryl's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, equities analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal 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.