Truist Financial Issues Positive Forecast for Korn Ferry (NYSE:KFY) Stock Price

Korn Ferry (NYSE:KFY) had its price objective lifted by research analysts at Truist Financial from $78.00 to $84.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price would indicate a potential upside of 17.38% from the stock’s previous close.

Korn Ferry Stock Performance

NYSE KFY opened at $71.56 on Friday. The company has a fifty day moving average of $74.19 and a two-hundred day moving average of $70.73. The company has a market capitalization of $3.72 billion, a PE ratio of 15.29 and a beta of 1.56. Korn Ferry has a 1 year low of $52.06 and a 1 year high of $80.64. 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 announced its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. Korn Ferry had a return on equity of 13.73% and a net margin of 6.68%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. As a group, analysts expect that Korn Ferry will post 4.84 earnings per share for the current year.

Insiders Place Their Bets

In other Korn Ferry news, CEO Gary D. Burnison sold 16,274 shares of Korn Ferry stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $74.05, for a total value of $1,205,089.70. Following the transaction, the chief executive officer now directly owns 356,844 shares in the company, valued at approximately $26,424,298.20. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at approximately $11,672,028.55. The trade was a 11.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,201 shares of company stock valued at $6,329,320. Insiders own 1.40% of the company’s stock.

Institutional Trading of Korn Ferry

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in Korn Ferry during the third quarter worth about $103,546,000. Thrivent Financial for Lutherans increased its position in Korn Ferry by 1,846.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after purchasing an additional 841,413 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Korn Ferry during the 2nd quarter worth approximately $28,590,000. Blair William & Co. IL lifted its holdings in shares of Korn Ferry by 377.6% in the 2nd quarter. Blair William & Co. IL now owns 239,823 shares of the business services provider’s stock valued at $16,102,000 after buying an additional 189,607 shares during the period. Finally, Barclays PLC boosted its stake in shares of Korn Ferry by 129.0% in the third quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock valued at $18,053,000 after buying an additional 135,148 shares in the last quarter. Institutional investors and hedge funds own 98.82% 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.