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

Kyndryl Holdings, Inc. (NYSE:KD) was up 8% during mid-day 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. Approximately 3,183,221 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 2,592,951 shares. The stock had previously closed at $39.92.

Several other research firms also recently commented on KD. Oppenheimer lifted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America started coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KD. FMR LLC grew its position in shares of Kyndryl by 35.1% in the 3rd 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 last quarter. Westfield Capital Management Co. LP increased 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 purchasing an additional 1,254,208 shares during the period. Cinctive Capital Management LP bought a new position in Kyndryl in the 3rd quarter worth $20,213,000. Cortland Associates Inc. MO boosted its stake in shares of Kyndryl by 35.7% during 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 Kyndryl by 166.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock worth $19,284,000 after buying an additional 524,168 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Up 8.7 %

The company’s fifty day simple moving average is $36.57 and its 200 day simple moving average is $28.93. 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 has a market capitalization of $10.08 billion, a PE ratio of -111.27, 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.