Verdence Capital Advisors LLC Invests $274,000 in Korn Ferry (NYSE:KFY)

Verdence Capital Advisors LLC acquired a new position in shares of Korn Ferry (NYSE:KFY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,620 shares of the business services provider’s stock, valued at approximately $274,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Korn Ferry by 0.6% during the third quarter. Vanguard Group Inc. now owns 6,257,755 shares of the business services provider’s stock worth $296,868,000 after acquiring an additional 34,960 shares during the last quarter. American Century Companies Inc. increased its holdings in Korn Ferry by 3.2% in the third quarter. American Century Companies Inc. now owns 2,739,697 shares of the business services provider’s stock worth $129,971,000 after purchasing an additional 85,781 shares in the last quarter. Invesco Ltd. increased its holdings in Korn Ferry by 10.1% in the third quarter. Invesco Ltd. now owns 1,521,044 shares of the business services provider’s stock worth $72,158,000 after purchasing an additional 140,142 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Korn Ferry by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,376,771 shares of the business services provider’s stock worth $65,314,000 after purchasing an additional 11,159 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Korn Ferry by 53.9% in the fourth quarter. Pacer Advisors Inc. now owns 959,441 shares of the business services provider’s stock worth $56,943,000 after purchasing an additional 336,040 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KFY has been the subject of a number of research analyst reports. StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. Truist Financial lifted their target price on Korn Ferry from $64.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, March 4th. UBS Group lifted their target price on Korn Ferry from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Robert W. Baird lifted their target price on Korn Ferry from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, William Blair upgraded Korn Ferry from a “market perform” rating to an “outperform” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Korn Ferry Trading Up 0.4 %

NYSE KFY opened at $63.22 on Wednesday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 21.88 and a beta of 1.47. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $69.69. The business has a 50 day moving average price of $62.82 and a 200-day moving average price of $56.84. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.23.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Wednesday, March 6th. The business services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. The firm had revenue of $676.80 million during the quarter, compared to the consensus estimate of $657.91 million. Korn Ferry had a return on equity of 12.59% and a net margin of 5.34%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, equities analysts expect that Korn Ferry will post 4.17 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, March 27th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, March 26th. This represents a $1.32 annualized dividend and a dividend yield of 2.09%. Korn Ferry’s payout ratio is 45.67%.

Insider Activity at Korn Ferry

In related news, Director Jerry Leamon sold 10,000 shares of Korn Ferry stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.80, for a total transaction of $658,000.00. Following the transaction, the director now owns 16,802 shares of the company’s stock, valued at $1,105,571.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.

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.