UniSuper Management Pty Ltd Invests $815,000 in Korn Ferry (NYSE:KFY)

UniSuper Management Pty Ltd acquired a new stake in Korn Ferry (NYSE:KFY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,394 shares of the business services provider’s stock, valued at approximately $815,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC increased its stake in Korn Ferry by 2.2% during the first quarter. Clearbridge Investments LLC now owns 262,865 shares of the business services provider’s stock worth $17,286,000 after purchasing an additional 5,641 shares during the period. Seven Eight Capital LP acquired a new position in shares of Korn Ferry in the first quarter valued at approximately $521,000. O Shaughnessy Asset Management LLC purchased a new stake in Korn Ferry during the 1st quarter worth approximately $259,000. Vanguard Group Inc. lifted its holdings in Korn Ferry by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 6,354,443 shares of the business services provider’s stock worth $417,868,000 after buying an additional 134,209 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in Korn Ferry in the 1st quarter valued at approximately $3,302,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Arian sold 5,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $66.01, for a total value of $330,050.00. Following the completion of the sale, the chief executive officer now directly owns 91,484 shares of the company’s stock, valued at approximately $6,038,858.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Korn Ferry Stock Up 0.4 %

Shares of NYSE KFY traded up $0.31 during midday trading on Thursday, hitting $70.96. 20,444 shares of the company’s stock were exchanged, compared to its average volume of 359,346. The firm’s fifty day simple moving average is $66.80 and its 200-day simple moving average is $63.26. The company has a market cap of $3.68 billion, a PE ratio of 21.94 and a beta of 1.54. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $72.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.79 and a quick ratio of 1.83.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, June 13th. The business services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.13. Korn Ferry had a net margin of 6.05% and a return on equity of 13.18%. The company had revenue of $690.80 million for the quarter, compared to analysts’ expectations of $687.36 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts predict that Korn Ferry will post 4.86 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, July 3rd. This is an increase from Korn Ferry’s previous quarterly dividend of $0.33. Korn Ferry’s dividend payout ratio is currently 45.96%.

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.