Bank of America began coverage on shares of Kyndryl (NYSE:KD – Free Report) in a report issued on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 price target on the stock.
Kyndryl Stock Performance
Shares of Kyndryl stock opened at $33.05 on Friday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -84.74, a price-to-earnings-growth ratio of 7.83 and a beta of 1.63. The stock’s 50-day moving average is $24.99 and its 200-day moving average is $25.25. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl has a one year low of $17.64 and a one year high of $33.62.
Hedge Funds Weigh In On Kyndryl
Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in Kyndryl in the 1st quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in shares of Kyndryl during the 3rd quarter valued at $29,000. Headlands Technologies LLC grew its stake in Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock worth $39,000 after buying an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Kyndryl during the second quarter valued at approximately $39,000. Finally, UMB Bank n.a. lifted its position in shares of Kyndryl by 44.2% during the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after buying an additional 462 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.
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