Jupiter Asset Management Ltd. Makes New Investment in Robert Half Inc. (NYSE:RHI)

Key Points

• Jupiter Asset Management Ltd. acquired 1,304,766 shares of Robert Half Inc., valued at approximately $71.2 million, representing 1.28% of the company.
• Robert Half reported Q2 earnings of $0.41 per share, slightly exceeding the consensus estimate of $0.40, with revenues of $1.37 billion, though down 7% from the previous year.
• Several analysts have lowered their price targets for Robert Half, with an average target of $45.83, and the stock currently holds an average rating of "Hold."

Jupiter Asset Management Ltd. bought a new position in Robert Half Inc. (NYSE:RHI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,304,766 shares of the business services provider's stock, valued at approximately $71,175,000. Jupiter Asset Management Ltd. owned 1.28% of Robert Half at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RHI. Fiduciary Management Inc. WI boosted its holdings in Robert Half by 15.4% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,251,541 shares of the business services provider's stock worth $158,644,000 after buying an additional 300,524 shares during the period. Geode Capital Management LLC boosted its holdings in 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 period. First Trust Advisors LP boosted its holdings in Robert Half by 1.9% in the 4th quarter. First Trust Advisors LP now owns 1,975,037 shares of the business services provider's stock worth $139,161,000 after buying an additional 36,150 shares during the period. Pzena Investment Management LLC boosted its holdings in Robert Half by 29.2% in the 1st quarter. Pzena Investment Management LLC now owns 1,318,708 shares of the business services provider's stock worth $71,936,000 after buying an additional 298,368 shares during the period. Finally, Northern Trust Corp boosted its holdings in Robert Half by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,067,255 shares of the business services provider's stock worth $75,199,000 after buying an additional 169,682 shares during the period. Institutional investors own 92.41% of the company's stock.

Robert Half Price Performance

Shares of NYSE RHI traded down $1.57 during mid-day trading on Friday, hitting $35.34. 2,084,125 shares of the company's stock traded hands, compared to its average volume of 2,133,082. The company's 50-day moving average is $42.19 and its two-hundred day moving average is $50.08. The company has a market capitalization of $3.61 billion, a P/E ratio of 20.19 and a beta of 1.02. Robert Half Inc. has a 1 year low of $35.22 and a 1 year 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, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The business's revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. Equities analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen cut shares of Robert Half from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Barclays decreased their price target on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. BNP Paribas cut shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. Finally, Truist Financial set a $55.00 price target on shares of Robert Half and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $45.83.

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.