Wedge Capital Management L L P NC Reduces Holdings in Korn Ferry (NYSE:KFY)

Wedge Capital Management L L P NC lowered its position in shares of Korn Ferry (NYSE:KFY) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,225 shares of the business services provider’s stock after selling 9,477 shares during the quarter. Wedge Capital Management L L P NC owned about 0.14% of Korn Ferry worth $5,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KFY. Quadrature Capital Ltd bought a new position in Korn Ferry in the 4th quarter valued at approximately $560,000. GAMMA Investing LLC lifted its stake in shares of Korn Ferry by 40.1% during the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the business services provider’s stock valued at $71,000 after buying an additional 311 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Korn Ferry by 40.1% in the first quarter. First Hawaiian Bank now owns 13,067 shares of the business services provider’s stock worth $859,000 after acquiring an additional 3,740 shares during the period. Yarbrough Capital LLC bought a new position in shares of Korn Ferry during the first quarter worth $363,000. Finally, Triad Investment Management grew its holdings in Korn Ferry by 1.8% during the 1st quarter. Triad Investment Management now owns 50,035 shares of the business services provider’s stock valued at $3,290,000 after buying an additional 863 shares in the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn Ferry Price Performance

Korn Ferry stock opened at $72.60 on Tuesday. Korn Ferry has a 1 year low of $44.45 and a 1 year high of $76.63. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 22.55 and a beta of 1.54. The firm has a 50-day moving average of $71.16 and a two-hundred day moving average of $67.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The company had revenue of $682.80 million for the quarter, compared to analyst estimates of $663.84 million. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. Korn Ferry’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. On average, research analysts forecast that Korn Ferry will post 4.84 earnings per share for the current year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.48 annualized dividend and a yield of 2.04%. Korn Ferry’s dividend payout ratio (DPR) is 45.96%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Insider Activity

In related news, insider Michael Distefano sold 5,000 shares of Korn Ferry stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the sale, the insider now directly owns 50,954 shares in the company, valued at $3,687,031.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the transaction, the insider now owns 50,954 shares of the company’s stock, valued at $3,687,031.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert P. Rozek sold 20,921 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $75.53, for a total value of $1,580,163.13. Following the completion of the transaction, the chief financial officer now directly owns 154,535 shares of the company’s stock, valued at $11,672,028.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,921 shares of company stock worth $5,942,296. Insiders own 1.50% of the company’s stock.

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.