Proficio Capital Partners LLC Takes $685,000 Position in Korn Ferry (NYSE:KFY)

Proficio Capital Partners LLC acquired a new stake in Korn Ferry (NYSE:KFY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,163 shares of the business services provider’s stock, valued at approximately $685,000.

A number of other institutional investors also recently modified their holdings of KFY. Illinois Municipal Retirement Fund boosted its stake in Korn Ferry by 8.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 30,872 shares of the business services provider’s stock worth $2,082,000 after acquiring an additional 2,443 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Korn Ferry by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 811,812 shares of the business services provider’s stock worth $54,757,000 after acquiring an additional 27,292 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Korn Ferry during the fourth quarter worth $270,000. Allianz Asset Management GmbH boosted its stake in Korn Ferry by 14.2% during the fourth quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock worth $50,818,000 after acquiring an additional 93,591 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Korn Ferry by 22.7% during the fourth quarter. Handelsbanken Fonder AB now owns 11,902 shares of the business services provider’s stock worth $803,000 after acquiring an additional 2,200 shares in the last quarter. 98.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on KFY. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial increased their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Korn Ferry Stock Up 0.7 %

Korn Ferry stock opened at $65.67 on Monday. Korn Ferry has a 1-year low of $59.78 and a 1-year high of $80.64. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 14.03 and a beta of 1.57. The firm’s fifty day moving average price is $67.63 and its two-hundred day moving average price is $70.87. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. During the same period last year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares in the company, valued at $4,975,096.56. This represents a 22.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

About Korn Ferry

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.