Kyndryl (NYSE:KD) Stock Price Up 8% on Analyst Upgrade

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report)'s stock price traded up 8% during trading 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 were traded 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.

Several other research analysts also recently issued reports on the stock. Bank of America started coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a "buy" rating and a $40.00 price objective on the stock. Oppenheimer raised their target price on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday.

Insider Activity

In related news, SVP Vineet Khurana sold 55,465 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now directly owns 43,877 shares of the company's stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the business's stock in a transaction dated 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 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. Insiders own 1.04% of the company's stock.

Hedge Funds Weigh In On Kyndryl

Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Kyndryl by 4.8% during the fourth quarter. HighTower Advisors LLC now owns 31,109 shares of the company's stock valued at $1,076,000 after purchasing an additional 1,432 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kyndryl by 16.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,680 shares of the company's stock worth $2,100,000 after buying an additional 8,513 shares during the last quarter. AlphaQuest LLC increased its position in Kyndryl by 147.3% in the fourth quarter. AlphaQuest LLC now owns 1,877 shares of the company's stock worth $65,000 after buying an additional 1,118 shares during the period. Amundi lifted its stake in Kyndryl by 65.4% in the fourth quarter. Amundi now owns 223,594 shares of the company's stock valued at $8,434,000 after buying an additional 88,404 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Kyndryl during the fourth quarter valued at $272,000. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Down 2.7 %

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 firm's 50-day moving average price is $36.87 and its 200 day moving average price is $29.13. The firm has a market cap of $9.70 billion, a P/E ratio of 75.96, a price-to-earnings-growth ratio of 12.64 and a beta of 1.86.

About Kyndryl

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.