Korn Ferry (NYSE:KFY) Sees Strong Trading Volume Following Strong Earnings

Shares of Korn Ferry (NYSE:KFY) saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 529,561 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 339,894 shares.The stock last traded at $65.64 and had previously closed at $67.27.

The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. During the same quarter last year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be issued a $0.48 dividend. This is a positive change from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, March 27th. Korn Ferry’s payout ratio is currently 31.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KFY. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial boosted their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Hedge Funds Weigh In On Korn Ferry

Several large investors have recently made changes to their positions in KFY. Wealthfront Advisers LLC acquired a new stake in Korn Ferry during the 4th quarter worth approximately $76,000. Smartleaf Asset Management LLC increased its position in shares of Korn Ferry by 230.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 963 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Korn Ferry by 828.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider’s stock valued at $113,000 after purchasing an additional 1,491 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Korn Ferry in the 4th quarter valued at approximately $122,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Korn Ferry in the 4th quarter valued at approximately $162,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

The stock’s 50-day simple moving average is $67.52 and its 200 day simple moving average is $70.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $3.43 billion, a PE ratio of 14.22 and a beta of 1.57.

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.