Cubist Systematic Strategies LLC Invests $2.20 Million in Robert Half Inc. $RHI

Key Points

• Cubist Systematic Strategies LLC acquired 40,409 shares of Robert Half Inc. valued at approximately $2.2 million during the first quarter.
• Hedge funds and institutional investors collectively own 92.41% of Robert Half's stock, with significant increases in shares held by firms like Royal Bank of Canada and Quarry LP.
• Robert Half declared a quarterly dividend of $0.59 per share with an annualized payout of $2.36, resulting in a 6.4% dividend yield.

Cubist Systematic Strategies LLC bought a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,409 shares of the business services provider's stock, valued at approximately $2,204,000.

Other large investors have also recently modified their holdings of the company. Quarry LP increased its position in shares of Robert Half by 540.8% during the 1st quarter. Quarry LP now owns 487 shares of the business services provider's stock valued at $27,000 after purchasing an additional 411 shares during the last quarter. Orion Capital Management LLC purchased a new position in Robert Half during the 4th quarter valued at $41,000. CX Institutional purchased a new position in Robert Half during the 1st quarter valued at $33,000. Manchester Capital Management LLC boosted its holdings in Robert Half by 45.0% during the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after acquiring an additional 256 shares during the period. Finally, Allworth Financial LP boosted its holdings in Robert Half by 80.4% during the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after acquiring an additional 650 shares during the period. Institutional investors own 92.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RHI. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. dropped their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.83.

Robert Half Price Performance

Shares of RHI stock traded down $0.90 during mid-day trading on Friday, hitting $35.49. The stock had a trading volume of 996,664 shares, compared to its average volume of 1,505,300. Robert Half Inc. has a 12-month low of $33.18 and a 12-month high of $78.41. The firm has a market capitalization of $3.61 billion, a P/E ratio of 20.28 and a beta of 1.03. The firm's 50-day moving average is $37.93 and its two-hundred day moving average is $44.39.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.The business's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. Analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's payout ratio is presently 134.86%.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.