Allspring Global Investments Holdings LLC Purchases 5,261 Shares of Korn Ferry (NYSE:KFY)

Allspring Global Investments Holdings LLC lifted its position in shares of Korn Ferry (NYSE:KFY) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,383,702 shares of the business services provider’s stock after purchasing an additional 5,261 shares during the period. Allspring Global Investments Holdings LLC owned about 2.63% of Korn Ferry worth $90,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of Korn Ferry during the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in Korn Ferry in the fourth quarter valued at approximately $45,000. Quadrant Capital Group LLC boosted its holdings in Korn Ferry by 90.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 503 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Korn Ferry by 13.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,540 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 301 shares during the last quarter. Finally, Cim Investment Management Inc. bought a new stake in Korn Ferry in the fourth quarter valued at approximately $204,000. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $78.00 target price (up from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. UBS Group upped their target price on Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 7th. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Finally, Robert W. Baird upped 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Transactions at Korn Ferry

In other news, CEO Mark Arian sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $66.01, for a total transaction of $330,050.00. Following the transaction, the chief executive officer now directly owns 91,484 shares of the company’s stock, valued at $6,038,858.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Korn Ferry Trading Up 0.6 %

KFY traded up $0.41 during trading on Tuesday, hitting $66.97. The company’s stock had a trading volume of 10,271 shares, compared to its average volume of 363,206. Korn Ferry has a twelve month low of $44.45 and a twelve month high of $70.78. The company has a quick ratio of 1.83, a current ratio of 1.79 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average price is $64.96 and its 200-day moving average price is $62.08. The firm has a market capitalization of $3.52 billion, a P/E ratio of 20.67 and a beta of 1.54.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.13. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. The firm had revenue of $690.80 million for the quarter, compared to analyst estimates of $687.36 million. During the same period in the previous year, the firm earned $1.01 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. Analysts anticipate that Korn Ferry will post 4.86 EPS for the current year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, July 3rd. Korn Ferry’s dividend payout ratio is presently 40.99%.

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.