Kyndryl (NYSE:KD) Hits New 1-Year High - Time to Buy?

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $43.74 and last traded at $43.44, with a volume of 396927 shares changing hands. The stock had previously closed at $42.37.

Analyst Ratings Changes

A number of analysts recently weighed in on KD shares. Wall Street Zen upgraded shares of Kyndryl from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Oppenheimer upped their target price on shares of Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, Susquehanna lowered their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

Kyndryl Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.29. The stock has a fifty day simple moving average of $38.75 and a two-hundred day simple moving average of $36.68. The company has a market cap of $10.06 billion, a PE ratio of 42.21, a price-to-earnings-growth ratio of 0.95 and a beta of 1.93.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 EPS 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 during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company earned ($0.01) earnings per share. Kyndryl's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value 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 $2,868,100.92. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

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

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.