Korn Ferry (NYSE:KFY) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its position in Korn Ferry (NYSE:KFY) by 17.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,430 shares of the business services provider’s stock after purchasing an additional 800 shares during the period. HighTower Advisors LLC’s holdings in Korn Ferry were worth $407,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in shares of Korn Ferry in the 3rd quarter worth about $6,480,000. Verition Fund Management LLC lifted its holdings in shares of Korn Ferry by 880.9% in the third quarter. Verition Fund Management LLC now owns 68,358 shares of the business services provider’s stock valued at $5,143,000 after purchasing an additional 61,389 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Korn Ferry by 25.6% in the third quarter. Rockefeller Capital Management L.P. now owns 387,513 shares of the business services provider’s stock valued at $29,156,000 after purchasing an additional 79,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Korn Ferry by 3.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,443 shares of the business services provider’s stock worth $861,000 after purchasing an additional 433 shares in the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in shares of Korn Ferry during the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn Ferry Stock Down 0.1 %

Shares of NYSE KFY opened at $66.56 on Friday. The firm’s 50 day moving average price is $73.59 and its 200 day moving average price is $70.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.07. The firm has a market cap of $3.43 billion, a P/E ratio of 14.22 and a beta of 1.56. Korn Ferry has a 1 year low of $54.77 and a 1 year high of $80.64.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, December 20th. This represents a $1.48 annualized dividend and a dividend yield of 2.22%. Korn Ferry’s payout ratio is currently 31.62%.

Insider Buying and Selling

In other news, Director Debra J. Perry sold 5,280 shares of Korn Ferry stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $73.30, for a total value of $387,024.00. Following the transaction, the director now directly owns 46,180 shares of the company’s stock, valued at $3,384,994. The trade was a 10.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Arian sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the sale, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,280 shares of company stock valued at $6,193,956. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial increased their target price on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Korn Ferry 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.