Bank of America Begins Coverage on Kyndryl (NYSE:KD)

Bank of America assumed coverage on shares of Kyndryl (NYSE:KD) in a research note released on Friday, MarketBeat reports. The firm issued a buy rating and a $40.00 price target on the stock.

Kyndryl Trading Up 2.6 %

Shares of KD stock opened at $33.92 on Friday. 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 business has a 50-day moving average price of $24.99 and a two-hundred day moving average price of $25.24. Kyndryl has a 12-month low of $17.64 and a 12-month high of $34.33. The firm has a market cap of $7.88 billion, a P/E ratio of -86.28, a price-to-earnings-growth ratio of 7.96 and a beta of 1.63.

Institutional Investors Weigh In On Kyndryl

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in Kyndryl during the 1st quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in Kyndryl during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings 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 acquiring an additional 462 shares during the period. Headlands Technologies LLC grew its holdings in shares of Kyndryl by 60.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock worth $39,000 after acquiring an additional 554 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kyndryl during the 2nd quarter worth approximately $39,000. Institutional investors own 71.53% of the company’s stock.

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.