Kyndryl (NYSE:KD) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Kyndryl (NYSE:KD) in a research report report published on Friday, Marketbeat reports. The firm issued a buy rating and a $40.00 price target on the stock.

Kyndryl Stock Performance

Shares of KD opened at $33.05 on Friday. The stock’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $25.25. The firm has a market cap of $7.68 billion, a PE ratio of -84.74, a PEG ratio of 7.83 and a beta of 1.63. Kyndryl has a 1 year low of $17.64 and a 1 year high of $33.62. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03.

Institutional Investors Weigh In On Kyndryl

Several large investors have recently added to or reduced their stakes in KD. Vanguard Group Inc. boosted its holdings in shares of Kyndryl by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 25,913,034 shares of the company’s stock worth $563,868,000 after purchasing an additional 81,826 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Kyndryl during the first quarter worth approximately $26,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kyndryl by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,703 shares of the company’s stock worth $2,823,000 after acquiring an additional 6,959 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Kyndryl in the 1st quarter valued at $269,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Kyndryl by 3.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,053,758 shares of the company’s stock valued at $44,690,000 after purchasing an additional 73,580 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.