Versant Capital Management Inc Makes New $35,000 Investment in Robert Half Inc. (NYSE:RHI)

Versant Capital Management Inc purchased a new position in shares of Robert Half Inc. (NYSE:RHI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 540 shares of the business services provider’s stock, valued at approximately $35,000.

A number of other institutional investors also recently bought and sold shares of the business. Mawer Investment Management Ltd. increased its position in Robert Half by 105.4% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock valued at $289,818,000 after acquiring an additional 1,875,476 shares during the period. Capital World Investors increased its position in Robert Half by 6.7% during the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after purchasing an additional 917,311 shares during the period. Boston Partners increased its position in Robert Half by 36.5% during the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock worth $287,265,000 after purchasing an additional 874,620 shares during the period. Norges Bank acquired a new position in Robert Half during the 4th quarter worth approximately $73,311,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Robert Half by 900.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock worth $66,155,000 after purchasing an additional 751,049 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,300 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total value of $82,017.00. Following the completion of the sale, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RHI. Barclays dropped their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, July 26th. Robert W. Baird dropped their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Truist Financial lowered their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. lowered their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Finally, BMO Capital Markets lowered their price target on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Robert Half has a consensus rating of “Hold” and an average price target of $67.86.

Robert Half Stock Performance

RHI stock traded up $0.39 on Wednesday, reaching $61.74. The company had a trading volume of 114,291 shares, compared to its average volume of 1,502,353. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39. The company’s fifty day moving average is $63.79 and its 200 day moving average is $71.71. The company has a market cap of $6.48 billion, a P/E ratio of 18.36, a PEG ratio of 5.91 and a beta of 1.25.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company earned $1.00 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Robert Half Inc. will post 2.58 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, August 23rd. Robert Half’s dividend payout ratio is presently 63.47%.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.