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

Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.47 and last traded at $39.20, with a volume of 1165 shares traded. The stock had previously closed at $39.13.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Susquehanna raised their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, November 22nd. Finally, Bank of America initiated coverage on Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock.

Kyndryl Stock Down 0.4 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a market cap of $9.05 billion, a P/E ratio of -99.87, a P/E/G ratio of 10.41 and a beta of 1.85. The company’s 50 day moving average price is $34.53 and its two-hundred day moving average price is $27.89.

Institutional Trading of Kyndryl

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westfield Capital Management Co. LP boosted its position in Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Kyndryl in the fourth quarter valued at about $255,000. National Bank of Canada FI raised its holdings in Kyndryl by 33.7% in the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after purchasing an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after buying an additional 76,670 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

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.