Renaissance Technologies LLC Cuts Stock Position in Robert Half Inc. $RHI

Key Points

• Renaissance Technologies reduced its Robert Half stake by 12.4% in the first quarter, selling 132,100 shares and retaining 936,172 shares worth approximately $23.8 million. Institutional investors collectively own 92.41% of the company.
• Robert Half reported quarterly earnings of $0.26 per share, in line with estimates, while revenue of $1.34 billion exceeded expectations. However, revenue declined 2.4% year over year and earnings fell from $0.41 per share in the prior-year quarter.
• RHI shares opened at $40.38, near their 52-week high, while analysts maintain a consensus “Reduce” rating and an average price target of $34.75. Analyst views remain mixed, with three Buy, three Hold, and four Sell ratings.

Renaissance Technologies LLC lessened its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 936,172 shares of the business services provider's stock after selling 132,100 shares during the period. Renaissance Technologies LLC owned approximately 0.92% of Robert Half worth $23,779,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RHI. Morningstar Investment Management LLC bought a new position in shares of Robert Half during the first quarter valued at $1,875,000. Sei Investments Co. boosted its stake in Robert Half by 163.7% in the 1st quarter. Sei Investments Co. now owns 284,936 shares of the business services provider's stock worth $7,237,000 after purchasing an additional 176,882 shares in the last quarter. State of Wyoming boosted its stake in Robert Half by 30.4% in the 1st quarter. State of Wyoming now owns 6,173 shares of the business services provider's stock worth $157,000 after purchasing an additional 1,438 shares in the last quarter. First Trust Advisors LP grew its position in Robert Half by 281.2% during the 1st quarter. First Trust Advisors LP now owns 1,333,720 shares of the business services provider's stock valued at $33,876,000 after purchasing an additional 983,842 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in Robert Half during the 1st quarter valued at about $497,000. 92.41% of the stock is owned by institutional investors.

Robert Half Price Performance

RHI stock opened at $40.38 on Thursday. Robert Half Inc. has a 1 year low of $21.83 and a 1 year high of $42.25. The company has a market cap of $4.13 billion, a P/E ratio of 35.11 and a beta of 0.82. The stock's fifty day moving average price is $33.05 and its 200-day moving average price is $28.66.

Robert Half (NYSE:RHI - Get Free Report) last posted its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, meeting analysts' consensus estimates of $0.26. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.Robert Half's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, analysts expect that Robert Half Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RHI. Robert W. Baird set a $47.00 target price on shares of Robert Half in a report on Monday. Weiss Ratings raised shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, June 17th. William Blair upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 21st. Zacks Research upgraded Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Finally, Truist Financial lifted their target price on Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $34.75.

Robert Half Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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