Kyndryl (NYSE:KD) Reaches New 1-Year High at $18.38

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.38 and last traded at $18.33, with a volume of 179105 shares trading hands. The stock had previously closed at $18.22.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Susquehanna upped their price objective on Kyndryl from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. JPMorgan Chase & Co. upped their price objective on Kyndryl from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, August 22nd.

Kyndryl Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.81. The business has a 50-day moving average price of $15.62 and a 200 day moving average price of $14.48. The stock has a market cap of $4.21 billion, a PE ratio of -3.71 and a beta of 1.44.

Kyndryl (NYSE:KD) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. Kyndryl had a negative return on equity of 11.38% and a negative net margin of 6.69%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the firm earned ($0.45) EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Kyndryl Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kyndryl

Several hedge funds have recently bought and sold shares of KD. Raymond James Financial Services Advisors Inc. grew its stake in Kyndryl by 6.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 148,331 shares of the company’s stock valued at $1,946,000 after acquiring an additional 8,824 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Kyndryl by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,604,898 shares of the company’s stock worth $21,054,000 after buying an additional 6,965 shares in the last quarter. Natixis Advisors L.P. purchased a new position in Kyndryl in the 1st quarter worth approximately $203,000. MetLife Investment Management LLC grew its stake in Kyndryl by 34.6% in the 1st quarter. MetLife Investment Management LLC now owns 116,861 shares of the company’s stock worth $1,533,000 after buying an additional 30,050 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Kyndryl by 1.8% in the 1st quarter. Rhumbline Advisers now owns 524,670 shares of the company’s stock worth $6,884,000 after buying an additional 9,314 shares in the last quarter. Hedge funds and other institutional investors own 64.89% 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.