Algert Global LLC Buys 108,791 Shares of Korn Ferry (NYSE:KFY)

Algert Global LLC increased its stake in shares of Korn Ferry (NYSE:KFY) by 418.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,781 shares of the business services provider’s stock after purchasing an additional 108,791 shares during the quarter. Algert Global LLC owned about 0.26% of Korn Ferry worth $9,049,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in Korn Ferry by 112.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock worth $29,000 after buying an additional 205 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Korn Ferry during the fourth quarter worth $29,000. CWM LLC lifted its stake in shares of Korn Ferry by 97.3% during the second quarter. CWM LLC now owns 890 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 439 shares during the period. GAMMA Investing LLC boosted its holdings in Korn Ferry by 40.1% in the first quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 311 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Korn Ferry in the second quarter worth about $101,000. 98.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Robert W. Baird increased their price objective on shares of Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Truist Financial reaffirmed a “buy” rating and set a $78.00 target price (up previously from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. Finally, UBS Group increased their price target on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. One investment 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 $75.00.

Korn Ferry Stock Performance

Shares of NYSE:KFY opened at $73.40 on Friday. The firm’s 50 day simple moving average is $70.85 and its 200 day simple moving average is $66.99. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $76.63. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 22.80 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15.

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

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a yield of 2.02%. Korn Ferry’s payout ratio is 45.96%.

Insiders Place Their Bets

In other news, insider Michael Distefano sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the sale, the insider now owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Michael Distefano sold 5,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total transaction of $361,800.00. Following the completion of the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert P. Rozek sold 20,921 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 154,535 shares in the company, valued at $11,672,028.55. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.