Pzena Investment Management LLC Acquires New Holdings in Korn Ferry (NYSE:KFY)

Pzena Investment Management LLC bought a new stake in Korn Ferry (NYSE:KFY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 898,130 shares of the business services provider's stock, valued at approximately $53,304,000. Pzena Investment Management LLC owned 1.71% of Korn Ferry as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio raised its holdings in shares of Korn Ferry by 300.0% during the third quarter. Strs Ohio now owns 4,000 shares of the business services provider's stock valued at $189,000 after purchasing an additional 3,000 shares during the period. Teacher Retirement System of Texas grew its position in Korn Ferry by 12.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 6,888 shares of the business services provider's stock worth $327,000 after purchasing an additional 775 shares in the last quarter. Victory Capital Management Inc. grew its position in Korn Ferry by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 48,668 shares of the business services provider's stock worth $2,309,000 after purchasing an additional 1,652 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Korn Ferry by 525.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 224,741 shares of the business services provider's stock worth $10,662,000 after purchasing an additional 188,817 shares in the last quarter. Finally, LGT Group Foundation grew its position in Korn Ferry by 2.0% in the 3rd quarter. LGT Group Foundation now owns 49,758 shares of the business services provider's stock worth $2,364,000 after purchasing an additional 985 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company's stock.

Korn Ferry Stock Performance

Shares of KFY stock traded up $0.15 during trading on Wednesday, reaching $65.60. 175,524 shares of the company's stock traded hands, compared to its average volume of 351,692. The company has a market capitalization of $3.45 billion, a P/E ratio of 22.70 and a beta of 1.47. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. The firm's 50-day moving average is $63.51 and its 200 day moving average is $59.18. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $69.69.

Korn Ferry (NYSE:KFY - Get Free Report) last posted its earnings results on Wednesday, March 6th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Korn Ferry had a net margin of 5.34% and a return on equity of 12.59%. The business had revenue of $676.80 million for the quarter, compared to analysts' expectations of $657.91 million. During the same period in the prior year, the company posted $1.01 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts expect that Korn Ferry will post 4.17 EPS for the current year.

Korn Ferry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, March 27th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, March 26th. Korn Ferry's payout ratio is 45.67%.

Insider Transactions at Korn Ferry

In other news, Director Jerry Leamon sold 10,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.80, for a total value of $658,000.00. Following the transaction, the director now owns 16,802 shares of the company's stock, valued at approximately $1,105,571.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KFY. Robert W. Baird increased their target price on shares of Korn Ferry from $62.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, March 7th. Truist Financial increased their target price on shares of Korn Ferry from $64.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, March 4th. StockNews.com raised shares of Korn Ferry from a "hold" rating to a "buy" rating in a research report on Wednesday, March 13th. William Blair upgraded shares of Korn Ferry from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 29th. Finally, UBS Group upped their price target on shares of Korn Ferry from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.00.

Korn Ferry Company 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.