Cubist Systematic Strategies LLC Makes New $2.20 Million Investment 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 position in Robert Half Inc. (NYSE:RHI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 40,409 shares of the business services provider's stock, valued at approximately $2,204,000.

Other institutional investors have also made changes to their positions in the company. Quarry LP increased its position in shares of Robert Half by 540.8% in the first quarter. Quarry LP now owns 487 shares of the business services provider's stock worth $27,000 after acquiring an additional 411 shares in the last quarter. Orion Capital Management LLC purchased a new position in Robert Half during the 4th quarter valued at about $41,000. CX Institutional purchased a new position in Robert Half during the 1st quarter valued at about $33,000. Manchester Capital Management LLC grew its stake 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 in the last quarter. Finally, Allworth Financial LP grew its stake 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 in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Trading Down 0.1%

Robert Half stock traded down $0.02 during trading hours on Tuesday, reaching $35.91. 1,186,703 shares of the company were exchanged, compared to its average volume of 1,657,444. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 20.52 and a beta of 1.03. The stock has a 50-day moving average of $38.36 and a 200 day moving average of $44.79. Robert Half Inc. has a 12 month low of $33.18 and a 12 month high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm 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 company's revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.6%. Robert Half's payout ratio is 134.86%.

Analyst Ratings Changes

Several brokerages recently commented on RHI. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. JPMorgan Chase & Co. lowered their price target on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.83.

Robert Half Company Profile

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.