Commonwealth Equity Services LLC Decreases Stock Position in Korn Ferry (NYSE:KFY)

Commonwealth Equity Services LLC lessened its holdings in Korn Ferry (NYSE:KFY) by 46.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,846 shares of the business services provider’s stock after selling 5,004 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Korn Ferry were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its position in shares of Korn Ferry by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,320 shares of the business services provider’s stock worth $961,000 after buying an additional 229 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Korn Ferry by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the business services provider’s stock worth $1,766,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Korn Ferry by 28.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock worth $93,000 after buying an additional 306 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Korn Ferry by 2.5% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 14,548 shares of the business services provider’s stock worth $957,000 after purchasing an additional 360 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Korn Ferry by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 13,183 shares of the business services provider’s stock worth $867,000 after purchasing an additional 391 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the completion of the transaction, the chief financial officer now directly owns 154,535 shares of the company’s stock, valued at approximately $11,672,028.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Korn Ferry Stock Performance

Shares of NYSE:KFY opened at $74.81 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83. The business’s 50 day moving average price is $70.55 and its 200-day moving average price is $66.71. The firm has a market capitalization of $3.88 billion, a PE ratio of 23.23 and a beta of 1.54. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $76.63.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The firm had revenue of $682.80 million for the quarter, compared to the consensus estimate of $663.84 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 annualized dividend and a yield of 1.98%. Korn Ferry’s payout ratio is 45.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KFY shares. Robert W. Baird upped their price objective on Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Truist Financial restated a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Korn Ferry in a research note on Friday, June 14th. Finally, UBS Group upped their price objective on Korn Ferry from $66.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.