Squarepoint Ops LLC Makes New $3.73 Million Investment in Korn Ferry (NYSE:KFY)

Squarepoint Ops LLC acquired a new stake in shares of Korn Ferry (NYSE:KFY) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 55,601 shares of the business services provider’s stock, valued at approximately $3,733,000.

Other hedge funds have also recently modified their holdings of the company. Circumference Group LLC bought a new stake in Korn Ferry in the 4th quarter valued at $2,131,000. Janus Henderson Group PLC increased its holdings in shares of Korn Ferry by 161.5% in the first quarter. Janus Henderson Group PLC now owns 67,064 shares of the business services provider’s stock worth $4,409,000 after purchasing an additional 41,416 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Korn Ferry in the first quarter worth about $815,000. Diversify Advisory Services LLC purchased a new stake in shares of Korn Ferry in the second quarter worth about $1,158,000. Finally, Jennison Associates LLC bought a new position in Korn Ferry during the first quarter valued at approximately $52,948,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn Ferry Stock Down 1.7 %

Shares of KFY opened at $73.93 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $70.98 and a 200 day moving average of $67.16. The company has a market cap of $3.83 billion, a PE ratio of 22.96 and a beta of 1.54. Korn Ferry has a 52-week low of $44.45 and a 52-week high of $76.63.

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

Korn Ferry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.00%. Korn Ferry’s dividend payout ratio is 45.96%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KFY shares. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Robert W. Baird upped their price target on shares of Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. UBS Group increased their price objective on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, Truist Financial restated 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Korn Ferry presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Transactions at Korn Ferry

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the transaction, 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 accessible through this hyperlink. In other news, CFO Robert P. Rozek sold 20,921 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $75.53, for a total transaction of $1,580,163.13. Following the transaction, the chief financial officer now directly owns 154,535 shares of the company’s stock, valued at $11,672,028.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction that occurred 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 directly 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. Company insiders own 1.50% of the company’s stock.

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.