Kyndryl (NYSE:KD) Sets New 1-Year High – Here’s What Happened

Shares of Kyndryl Holdings, Inc. (NYSE:KD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.47 and last traded at $39.20, with a volume of 1165 shares changing hands. The stock had previously closed at $39.13.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KD. Susquehanna upped their price target on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a report on Friday, November 22nd. Oppenheimer upped their target price on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Bank of America initiated coverage on Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target on the stock.

Kyndryl Trading Up 0.9 %

The business’s 50 day simple moving average is $34.95 and its two-hundred day simple moving average is $28.06. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03.

Institutional Trading of Kyndryl

A number of hedge funds have recently made changes to their positions in KD. Westfield Capital Management Co. LP increased its position in Kyndryl by 62.6% in 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 during the period. Tidal Investments LLC raised its position in shares of Kyndryl by 45.9% during the third quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after acquiring an additional 32,173 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Kyndryl in the fourth quarter worth approximately $255,000. National Bank of Canada FI boosted its holdings in Kyndryl by 33.7% in the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock valued at $15,096,000 after acquiring an additional 165,481 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kyndryl by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after purchasing an additional 76,670 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

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.