Kyndryl (NYSE:KD) Reaches New 12-Month High – Here’s What Happened

Shares of Kyndryl Holdings, Inc. (NYSE:KD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $37.34 and last traded at $36.61, with a volume of 580262 shares traded. The stock had previously closed at $35.52.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KD. Susquehanna raised their price target on Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a research report on Friday, November 22nd. Bank of America assumed coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Oppenheimer increased their target price on Kyndryl from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Kyndryl presently has an average rating of “Buy” and an average target price of $34.60.

Kyndryl Stock Up 3.8 %

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock has a market cap of $8.56 billion, a P/E ratio of -94.51, a PEG ratio of 8.51 and a beta of 1.86. The company’s 50 day moving average price is $31.36 and its two-hundred day moving average price is $26.88.

Hedge Funds Weigh In On Kyndryl

Hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in Kyndryl during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Kyndryl by 44.2% in the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after purchasing an additional 462 shares during the last quarter. Headlands Technologies LLC raised its stake in Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after purchasing an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kyndryl during the second quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.

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.