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

Kyndryl Holdings, Inc. (NYSE:KD) shares rose 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. Approximately 3,183,221 shares were traded 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.

KD has been the topic of a number of other research reports. Bank of America initiated coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Oppenheimer raised their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Institutional Trading of Kyndryl

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KD. Wealth Enhancement Advisory Services LLC raised its position in Kyndryl by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock worth $1,037,000 after acquiring an additional 312 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Kyndryl by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock valued at $2,232,000 after purchasing an additional 400 shares during the period. UMB Bank n.a. boosted its holdings in Kyndryl by 27.1% in the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock worth $66,000 after acquiring an additional 408 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Kyndryl by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after purchasing an additional 422 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Kyndryl by 0.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 47,226 shares of the company’s stock worth $1,634,000 after buying an additional 428 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Trading Up 8.4 %

The firm has a market cap of $10.05 billion, a PE ratio of -110.97, a P/E/G ratio of 11.00 and a beta of 1.86. 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 50 day moving average of $36.40 and a 200 day moving average of $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.