Wedge Capital Management L L P NC Decreases Stake in Korn Ferry (NYSE:KFY)

Wedge Capital Management L L P NC cut its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,397 shares of the business services provider's stock after selling 9,216 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Korn Ferry worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KFY. Invesco Ltd. boosted its holdings in Korn Ferry by 5.6% during the 4th quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider's stock valued at $124,161,000 after acquiring an additional 97,811 shares during the period. Thrivent Financial for Lutherans raised its position in Korn Ferry by 19.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider's stock valued at $76,458,000 after purchasing an additional 184,170 shares in the last quarter. Victory Capital Management Inc. raised its position in Korn Ferry by 11.5% in the 4th quarter. Victory Capital Management Inc. now owns 888,776 shares of the business services provider's stock valued at $59,948,000 after purchasing an additional 91,461 shares in the last quarter. Royce & Associates LP raised its position in Korn Ferry by 3.8% in the 4th quarter. Royce & Associates LP now owns 846,195 shares of the business services provider's stock valued at $57,076,000 after purchasing an additional 30,959 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Korn Ferry by 113.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 826,157 shares of the business services provider's stock valued at $55,724,000 after purchasing an additional 438,644 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KFY has been the topic of several research analyst reports. UBS Group cut their target price on Korn Ferry from $75.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Wall Street Zen lowered Korn Ferry from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Truist Financial cut their target price on Korn Ferry from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th.

Korn Ferry Stock Performance

NYSE:KFY traded down $0.81 during mid-day trading on Wednesday, reaching $69.34. 334,775 shares of the stock were exchanged, compared to its average volume of 379,104. The company has a 50 day simple moving average of $65.34 and a 200-day simple moving average of $67.54. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.82 and a beta of 1.42. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 1 year low of $59.23 and a 1 year high of $80.64.

Korn Ferry (NYSE:KFY - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm had revenue of $676.50 million for the quarter, compared to the consensus estimate of $650.45 million. During the same quarter last year, the business posted $1.07 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.