Kyndryl (NYSE:KD) Shares Up 8% After Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price traded up 8% on Wednesday after Susquehanna raised their price target on the stock from $40.00 to $46.00. Susquehanna currently has a positive rating on the stock. Kyndryl traded as high as $43.19 and last traded at $43.12. 3,183,221 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 2,592,951 shares. The stock had previously closed at $39.92.

A number of other research analysts also recently commented on the stock. Bank of America initiated coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Oppenheimer upped their target price on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors have recently modified their holdings of KD. Creative Planning raised its stake in shares of Kyndryl by 11.2% in the second quarter. Creative Planning now owns 41,615 shares of the company’s stock valued at $1,095,000 after purchasing an additional 4,192 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Kyndryl by 33.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after purchasing an additional 422 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Kyndryl by 30.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 56,600 shares of the company’s stock valued at $1,301,000 after acquiring an additional 13,100 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Kyndryl by 19.8% in the 3rd quarter. Fulton Bank N.A. now owns 25,227 shares of the company’s stock valued at $580,000 after purchasing an additional 4,165 shares during the period. Finally, CWM LLC boosted its holdings in shares of Kyndryl by 92.7% during the third quarter. CWM LLC now owns 12,193 shares of the company’s stock worth $280,000 after acquiring an additional 5,864 shares during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Trading Up 8.4 %

The business has a 50-day moving average price of $36.40 and a two-hundred day moving average price of $28.83. The stock has a market capitalization of $10.05 billion, a P/E ratio of -110.97, a P/E/G ratio of 11.00 and a beta of 1.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65.

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.