Victory Capital Management Inc. Increases Stake in Korn Ferry (NYSE:KFY)

Victory Capital Management Inc. increased its position in Korn Ferry (NYSE:KFY) by 11.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 888,776 shares of the business services provider’s stock after acquiring an additional 91,461 shares during the quarter. Victory Capital Management Inc. owned about 1.72% of Korn Ferry worth $59,948,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in 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 worth $93,000 after acquiring an additional 963 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Korn Ferry in the 4th quarter worth about $122,000. KBC Group NV increased its holdings in Korn Ferry by 68.5% in the 4th quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock worth $171,000 after acquiring an additional 1,033 shares during the last quarter. Glenmede Trust Co. NA purchased a new stake in Korn Ferry in the 3rd quarter worth about $203,000. Finally, MML Investors Services LLC purchased a new stake in Korn Ferry in the 3rd quarter worth about $209,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analysts Set New Price Targets

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

Korn Ferry Stock Up 0.7 %

Shares of NYSE KFY opened at $65.67 on Friday. Korn Ferry has a 52 week low of $59.78 and a 52 week high of $80.64. The business has a 50-day simple moving average of $67.66 and a two-hundred day simple moving average of $70.88. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.39 billion, a P/E ratio of 14.03 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. Research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares in the company, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% 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.