Kyndryl (NYSE:KD) Sets New 12-Month High – Should You Buy?

Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.09 and last traded at $29.09, with a volume of 5402 shares changing hands. The stock had previously closed at $28.53.

Kyndryl Stock Performance

The firm’s fifty day moving average price is $24.48 and its 200 day moving average price is $25.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $7.39 billion, a PE ratio of -78.43, a PEG ratio of 6.76 and a beta of 1.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after purchasing an additional 39,408 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Kyndryl during the second quarter valued at approximately $1,418,000. Acadian Asset Management LLC bought a new stake in shares of Kyndryl during the first quarter valued at approximately $26,000. International Assets Investment Management LLC grew its stake in shares of Kyndryl by 2,035.3% during the third quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock valued at $921,000 after purchasing an additional 38,222 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Kyndryl by 0.3% during the first quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock valued at $563,868,000 after purchasing an additional 81,826 shares during the last quarter. Institutional investors and hedge funds 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.