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

Equities research analysts at Bank of America initiated coverage on shares of Kyndryl (NYSE:KD) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $40.00 price target on the stock. Bank of America‘s price target indicates a potential upside of 23.15% from the stock’s current price.

Kyndryl Price Performance

NYSE:KD opened at $32.48 on Friday. Kyndryl has a 52 week low of $17.64 and a 52 week high of $33.26. 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 company has a market capitalization of $7.54 billion, a P/E ratio of -83.28, a P/E/G ratio of 6.76 and a beta of 1.63. The stock’s fifty day moving average is $24.59 and its two-hundred day moving average is $25.09.

Institutional Investors Weigh In On Kyndryl

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in shares of Kyndryl in the 1st quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in Kyndryl during the 3rd quarter worth about $29,000. Headlands Technologies LLC increased its holdings in 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 purchasing an additional 554 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Kyndryl during the 2nd quarter worth about $39,000. Finally, UMB Bank n.a. increased its holdings in 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 purchasing an additional 462 shares during the period. Hedge funds and other 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.