Glenmede Trust Co. NA Makes New Investment in Korn Ferry (NYSE:KFY)

Glenmede Trust Co. NA purchased a new position in shares of Korn Ferry (NYSE:KFY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,695 shares of the business services provider’s stock, valued at approximately $203,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Korn Ferry by 59.3% during the 3rd quarter. FMR LLC now owns 4,608 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 1,716 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Korn Ferry by 4.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,903 shares of the business services provider’s stock valued at $2,250,000 after purchasing an additional 1,183 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Korn Ferry by 88.1% during the 3rd quarter. Citigroup Inc. now owns 69,185 shares of the business services provider’s stock valued at $5,205,000 after purchasing an additional 32,403 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Korn Ferry by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 786,238 shares of the business services provider’s stock valued at $59,157,000 after purchasing an additional 15,437 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Korn Ferry during the 3rd quarter valued at approximately $103,546,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction on Monday, September 23rd. The shares were 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 trade was a 8.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert P. Rozek sold 20,921 shares of Korn Ferry stock in a transaction 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 directly owns 154,535 shares in the company, valued at approximately $11,672,028.55. This trade represents a 11.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,201 shares of company stock valued at $6,329,320 in the last 90 days. 1.40% of the stock is owned by insiders.

Korn Ferry Price Performance

Korn Ferry stock opened at $71.54 on Friday. The company’s fifty day moving average price is $74.19 and its 200 day moving average price is $70.69. Korn Ferry has a 1 year low of $52.06 and a 1 year high of $80.64. The stock has a market capitalization of $3.72 billion, a P/E ratio of 20.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $675.35 million. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.48 annualized dividend and a yield of 2.07%. Korn Ferry’s dividend payout ratio (DPR) is presently 42.29%.

Analysts Set New Price Targets

Separately, Truist Financial lifted their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.