Bank of America began coverage on shares of Kyndryl (NYSE:KD - Free Report) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued a buy rating and a $40.00 price target on the stock.
Kyndryl Stock Performance
Shares of KD traded up $0.68 on Friday, reaching $33.17. The company's stock had a trading volume of 3,495,986 shares, compared to its average volume of 1,734,510. Kyndryl has a 12-month low of $17.64 and a 12-month high of $33.62. The stock has a market capitalization of $7.70 billion, a P/E ratio of -83.28, a PEG ratio of 6.76 and a beta of 1.63. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The stock's 50 day simple moving average is $24.78 and its two-hundred day simple moving average is $25.14.
Institutional Investors Weigh In On Kyndryl
Several large investors have recently made changes to their positions in KD. FMR LLC boosted its stake in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company's stock worth $138,728,000 after buying an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP grew its holdings 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 purchasing an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP bought a new stake in Kyndryl in the third quarter worth about $20,213,000. Great Lakes Advisors LLC purchased a new position in shares of Kyndryl during the second quarter valued at approximately $19,996,000. Finally, Renaissance Technologies LLC grew its stake in shares of Kyndryl by 32.3% during the second quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock valued at $72,768,000 after buying an additional 675,800 shares during the last quarter. 71.53% of the stock is owned by institutional investors.
Kyndryl Company Profile
(
Get Free Report)
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.
See Also
Before you consider Kyndryl, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kyndryl wasn't on the list.
While Kyndryl currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
