Summit Global Investments Purchases 4,245 Shares of Korn Ferry (NYSE:KFY)

Summit Global Investments boosted its position in shares of Korn Ferry (NYSE:KFY) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,671 shares of the business services provider’s stock after acquiring an additional 4,245 shares during the period. Summit Global Investments’ holdings in Korn Ferry were worth $1,524,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Korn Ferry by 1,069.5% during the fourth quarter. Victory Capital Management Inc. now owns 569,154 shares of the business services provider’s stock valued at $33,779,000 after acquiring an additional 520,486 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Korn Ferry by 53.9% during the fourth quarter. Pacer Advisors Inc. now owns 959,441 shares of the business services provider’s stock worth $56,943,000 after buying an additional 336,040 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Korn Ferry by 525.6% during the third quarter. Assenagon Asset Management S.A. now owns 224,741 shares of the business services provider’s stock valued at $10,662,000 after buying an additional 188,817 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Korn Ferry by 88.1% during the third quarter. William Blair Investment Management LLC now owns 323,211 shares of the business services provider’s stock valued at $15,333,000 after buying an additional 151,379 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Korn Ferry by 10.1% in the 3rd quarter. Invesco Ltd. now owns 1,521,044 shares of the business services provider’s stock valued at $72,158,000 after acquiring an additional 140,142 shares during the period. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Korn Ferry

In other Korn Ferry news, Director Jerry Leamon sold 10,000 shares of the 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 in the company, valued at $1,105,571.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Korn Ferry Stock Performance

NYSE:KFY traded up $0.40 during trading hours on Friday, reaching $62.27. The company had a trading volume of 255,115 shares, compared to its average volume of 357,229. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.83 and a quick ratio of 1.83. Korn Ferry has a 1-year low of $44.45 and a 1-year high of $69.69. The business’s 50 day moving average price is $63.13 and its 200-day moving average price is $57.32. The firm has a market cap of $3.27 billion, a PE ratio of 21.55 and a beta of 1.47.

Korn Ferry (NYSE:KFY) last posted its earnings results on Wednesday, March 6th. The business services provider reported $1.07 earnings per share (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 analysts’ expectations of $657.91 million. Korn Ferry had a net margin of 5.34% and a return on equity of 12.59%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS. Research analysts forecast that Korn Ferry will post 4.17 EPS for the current year.

Korn Ferry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, March 27th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Tuesday, March 26th. Korn Ferry’s dividend payout ratio (DPR) is presently 45.67%.

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.