ARGA Investment Management LP Acquires 4,041 Shares of Korn Ferry (NYSE:KFY)

ARGA Investment Management LP boosted its holdings in Korn Ferry (NYSE:KFY) by 17.8% during the 4th quarter, Holdings Channel reports. The firm owned 26,786 shares of the business services provider’s stock after acquiring an additional 4,041 shares during the period. ARGA Investment Management LP’s holdings in Korn Ferry were worth $1,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KFY. Jennison Associates LLC boosted its holdings in shares of Korn Ferry by 8.1% in the 4th quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock worth $72,024,000 after buying an additional 79,808 shares during the last quarter. Litman Gregory Wealth Management LLC purchased a new position in Korn Ferry in the fourth quarter valued at about $504,000. Highland Capital Management LLC bought a new position in shares of Korn Ferry during the 4th quarter valued at approximately $201,000. KBC Group NV grew its position in shares of Korn Ferry by 68.5% during the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 1,033 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Korn Ferry by 44.8% during the 4th quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider’s stock worth $216,000 after purchasing an additional 991 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

KFY has been the subject of several research reports. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial increased their price target on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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.com, Korn Ferry has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Activity

In other news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the transaction, the chief executive officer now directly owns 68,869 shares in the company, valued at $4,975,096.56. The trade was a 22.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company’s stock.

Korn Ferry Stock Down 0.4 %

KFY opened at $69.81 on Wednesday. Korn Ferry has a 12 month low of $57.80 and a 12 month high of $80.64. The company has a market cap of $3.60 billion, a PE ratio of 14.92 and a beta of 1.57. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $70.20 and a 200 day moving average of $71.46.

Korn Ferry (NYSE:KFY) last posted its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. On average, sell-side analysts expect that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, December 20th. Korn Ferry’s payout ratio is presently 31.62%.

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.