Kyndryl (NYSE:KD) Reaches New 52-Week High After Analyst Upgrade

Shares of Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high on Tuesday after Oppenheimer raised their price target on the stock from $37.00 to $43.00. Oppenheimer currently has an outperform 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 subject of several other research reports. Susquehanna increased their price objective on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, November 22nd. Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target for the company.

Hedge Funds Weigh In On Kyndryl

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of 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 in the last quarter. 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 worth $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Kyndryl in the 3rd quarter worth about $20,213,000. Cortland Associates Inc. MO raised its stake in shares of Kyndryl by 35.7% in the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock valued at $49,421,000 after purchasing an additional 565,263 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Kyndryl by 166.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after purchasing an additional 524,168 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Up 5.2 %

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 firm has a market cap of $9.27 billion, a P/E ratio of -102.37, a PEG ratio of 11.00 and a beta of 1.86. The firm’s 50-day moving average price is $36.40 and its 200 day moving average price is $28.83.

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.