Kyndryl (NYSE:KD) Given New $55.00 Price Target at Oppenheimer

Kyndryl (NYSE:KD - Free Report) had its price objective upped by Oppenheimer from $47.00 to $55.00 in a research report report published on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

KD has been the topic of a number of other research reports. Wall Street Zen raised Kyndryl from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Susquehanna cut their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd.

Kyndryl Trading Down 1.1%

Shares of KD traded down $0.48 during mid-day trading on Tuesday, reaching $42.90. The stock had a trading volume of 1,336,924 shares, compared to its average volume of 2,013,240. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. Kyndryl has a 52-week low of $21.34 and a 52-week high of $44.28. The business's fifty day moving average is $39.41 and its 200 day moving average is $36.88. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 41.65, a P/E/G ratio of 0.96 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 EPS for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The business'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 company earned ($0.01) EPS. On average, sell-side analysts predict that Kyndryl will post 0.73 EPS for the current fiscal year.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction on Monday, June 2nd. The shares were 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 owned 73,278 shares in the company, valued at $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Kyndryl

Several hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new position in Kyndryl during the first quarter worth about $27,000. Hollencrest Capital Management increased its holdings in Kyndryl by 637.7% in the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after buying an additional 778 shares in the last quarter. Quarry LP purchased a new position in Kyndryl in the first quarter valued at about $28,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Kyndryl in the fourth quarter valued at about $30,000. Finally, True Wealth Design LLC grew its position in shares of Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock valued at $30,000 after purchasing an additional 524 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

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.