Kyndryl (NYSE:KD) Reaches New 12-Month High Following Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report)'s stock price hit a new 52-week high on Tuesday 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 $39.74 and last traded at $39.68, with a volume of 2769047 shares. The stock had previously closed at $37.96.

KD has been the topic of a number of other reports. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price on the stock. Oppenheimer boosted their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday.

Insider Buying and Selling at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now owns 43,877 shares of the company's stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of 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 holdings in shares of Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock valued at $2,350,000 after purchasing an additional 32,173 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Kyndryl during the 4th quarter valued at $255,000. National Bank of Canada FI lifted its holdings in shares of Kyndryl by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company's stock valued at $15,096,000 after purchasing an additional 165,481 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kyndryl by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company's stock valued at $45,229,000 after purchasing an additional 76,670 shares during the last quarter. Institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

The firm has a fifty day moving average price of $36.73 and a 200 day moving average price of $29.03. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $9.70 billion, a PE ratio of -107.12, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86.

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.