Korn Ferry (NYSE:KFY) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of Korn Ferry (NYSE:KFY) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 232,134 shares of the business services provider’s stock after selling 10,591 shares during the period. Sei Investments Co. owned about 0.45% of Korn Ferry worth $15,585,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Korn Ferry in the fourth quarter valued at approximately $711,000. Norges Bank acquired a new position in shares of Korn Ferry in the 4th quarter valued at $36,347,000. Quest Partners LLC purchased a new position in Korn Ferry during the fourth quarter worth about $29,000. US Bancorp DE boosted its position in shares of Korn Ferry by 61.3% during the 4th quarter. US Bancorp DE now owns 27,213 shares of the business services provider’s stock worth $1,615,000 after purchasing an additional 10,344 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Korn Ferry in the fourth quarter valued at $371,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Insider Buying and Selling at Korn Ferry

In other news, insider Michael Distefano sold 5,000 shares of the business’s 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 sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Robert P. Rozek sold 20,921 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $75.53, for a total value of $1,580,163.13. Following the sale, the chief financial officer now directly owns 154,535 shares in the company, valued at $11,672,028.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Korn Ferry Stock Performance

Shares of KFY stock opened at $72.99 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $70.78 and a 200-day simple moving average of $66.91. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 22.67 and a beta of 1.54. Korn Ferry has a 12-month low of $44.45 and a 12-month high of $76.63.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. During the same quarter last year, the company earned $0.99 earnings per share. Korn Ferry’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that Korn Ferry will post 4.84 EPS for the current year.

Korn Ferry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 19th. This represents a $1.48 annualized dividend and a yield of 2.03%. Korn Ferry’s payout ratio is currently 45.96%.

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.