Kainos Group (LON:KNOS) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Kainos Group plc (LON:KNOS) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 995.52 and traded as high as GBX 1,190. Kainos Group shares last traded at GBX 1,186, with a volume of 3,208,417 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KNOS. Berenberg Bank increased their target price on Kainos Group from GBX 1,185 to GBX 1,330 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Canaccord Genuity Group raised their price objective on shares of Kainos Group from GBX 1,200 to GBX 1,315 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Kainos Group from GBX 920 to GBX 1,260 and gave the company a “hold” rating in a report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 1,231.17.

Kainos Group Stock Performance

The company has a market cap of £1.37 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.15 and a beta of 0.87. The company has a quick ratio of 1.59, a current ratio of 1.17 and a debt-to-equity ratio of 6.11. The business has a fifty day simple moving average of GBX 995.52 and a two-hundred day simple moving average of GBX 865.84.

Insiders Place Their Bets

In other news, insider Richard McCann sold 760,911 shares of Kainos Group stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of GBX 779, for a total transaction of £5,927,496.69. Insiders own 19.72% of the company’s stock.

About Kainos Group

Kainos Group plc engages in the provision of digital technology services in the United Kingdom, Ireland, North America, Central Europe, and internationally. It operates through three segments: Digital Services, Workday Services, and Workday Products. The Digital Services segment develops and supports custom digital service platforms for transforming service delivery in public, commercial, and healthcare sectors. The Workday Services segment provides consulting, project management, integration, and post deployment services for Workday’s software suite, which includes cloud-based software for human capital management, and financial management, and adaptive planning.