StockNews.com Downgrades Korn Ferry (NYSE:KFY) to Hold

Korn Ferry (NYSE:KFY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, Truist Financial lifted 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Korn Ferry Stock Down 0.8 %

Shares of NYSE:KFY opened at $71.92 on Monday. The firm has a market cap of $3.74 billion, a P/E ratio of 15.37 and a beta of 1.56. Korn Ferry has a 12-month low of $54.48 and a 12-month high of $80.64. The business has a fifty day simple moving average of $74.09 and a 200 day simple moving average of $70.85. The company has a quick ratio of 2.15, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. Analysts predict that Korn Ferry will post 4.79 earnings per share for the current year.

Insider Activity at Korn Ferry

In related news, insider Michael Distefano sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were 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. This trade represents a 8.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,580,163.13. Following the completion of the transaction, the chief financial officer now owns 154,535 shares in the company, valued at $11,672,028.55. This represents a 11.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,201 shares of company stock worth $6,329,320 in the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Korn Ferry

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Korn Ferry by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock valued at $220,296,000 after purchasing an additional 48,993 shares during the last quarter. State Street Corp boosted its stake in shares of Korn Ferry by 2.0% in the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after buying an additional 40,240 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Korn Ferry in the third quarter valued at approximately $103,546,000. Geode Capital Management LLC boosted its position in Korn Ferry by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after purchasing an additional 28,014 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Korn Ferry by 13.2% in the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after purchasing an additional 115,523 shares during the period. 98.82% of the stock is currently owned by institutional investors.

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.