Wall Street Zen Upgrades Kyndryl (NYSE:KD) to Strong-Buy

Kyndryl (NYSE:KD) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other research firms also recently commented on KD. Susquehanna decreased their target price on shares of Kyndryl from $46.00 to $43.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer boosted their target price on shares of Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th.

Kyndryl Stock Performance

Shares of KD opened at $38.52 on Friday. The company’s 50 day moving average price is $36.65 and its 200 day moving average price is $36.28. Kyndryl has a 52 week low of $21.34 and a 52 week high of $43.61. The company has a market capitalization of $8.92 billion, a PE ratio of 37.40, a PEG ratio of 0.91 and a beta of 1.95. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07.

Kyndryl (NYSE:KD) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. Research analysts expect that Kyndryl will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the sale, the senior vice president now owns 73,278 shares in the company, valued at $2,868,100.92. This trade represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Kyndryl by 9.4% during the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company’s stock worth $99,000 after acquiring an additional 247 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after purchasing an additional 297 shares during the last quarter. MAI Capital Management boosted its stake in shares of Kyndryl by 12.7% in the 1st quarter. MAI Capital Management now owns 2,641 shares of the company’s stock valued at $83,000 after purchasing an additional 297 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Kyndryl by 0.5% in the 1st quarter. Intech Investment Management LLC now owns 66,751 shares of the company’s stock valued at $2,096,000 after purchasing an additional 318 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Kyndryl by 0.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company’s stock valued at $1,775,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds 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.