Inspire Advisors LLC Invests $555,000 in Robert Half Inc. (NYSE:RHI)

Key Points

• Inspire Advisors LLC has acquired a new stake in Robert Half Inc., purchasing 10,175 shares valued at approximately $555,000 in the first quarter.
• Major institutional investors, including Mitsubishi UFJ Asset Management, have significantly increased their holdings in Robert Half, contributing to a total ownership of 92.41% by hedge funds and other institutions.
• Analysts' price targets for Robert Half have exhibited downward momentum, with several brokerages adjusting their ratings and expectations, leading to an average target price of $45.83.

Inspire Advisors LLC purchased a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,175 shares of the business services provider's stock, valued at approximately $555,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mawer Investment Management Ltd. boosted its stake in Robert Half by 72.6% during the 4th quarter. Mawer Investment Management Ltd. now owns 8,079,597 shares of the business services provider's stock valued at $569,288,000 after purchasing an additional 3,398,257 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Robert Half by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,217,999 shares of the business services provider's stock valued at $226,740,000 after purchasing an additional 17,338 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in Robert Half by 15.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,251,541 shares of the business services provider's stock valued at $158,644,000 after purchasing an additional 300,524 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Robert Half by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,109,561 shares of the business services provider's stock worth $148,677,000 after buying an additional 53,294 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Robert Half by 1.9% in the fourth quarter. First Trust Advisors LP now owns 1,975,037 shares of the business services provider's stock valued at $139,161,000 after acquiring an additional 36,150 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a report on Friday, May 2nd. Truist Financial set a $55.00 target price on Robert Half and gave the stock a "buy" rating in a research report on Thursday, April 24th. Barclays dropped their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their target price on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.83.

Robert Half Stock Performance

RHI traded down $0.26 during trading on Thursday, reaching $37.19. The stock had a trading volume of 745,053 shares, compared to its average volume of 1,691,681. The stock has a market cap of $3.80 billion, a PE ratio of 21.26 and a beta of 1.00. Robert Half Inc. has a one year low of $36.96 and a one year high of $78.41. The business has a 50-day moving average of $42.73 and a 200-day moving average of $50.74.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The business had revenue of $1.37 billion for 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 firm's revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half 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.