New Age Alpha Advisors LLC Buys Shares of 2,403 Korn Ferry (NYSE:KFY)

New Age Alpha Advisors LLC purchased a new position in shares of Korn Ferry (NYSE:KFY) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,403 shares of the business services provider’s stock, valued at approximately $162,000.

A number of other institutional investors and hedge funds have also modified their holdings of KFY. The Manufacturers Life Insurance Company grew its holdings in Korn Ferry by 4.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,903 shares of the business services provider’s stock worth $2,250,000 after acquiring an additional 1,183 shares during the period. FMR LLC grew its stake in shares of Korn Ferry by 59.3% during the third quarter. FMR LLC now owns 4,608 shares of the business services provider’s stock worth $347,000 after purchasing an additional 1,716 shares during the period. Glenmede Trust Co. NA bought a new stake in Korn Ferry in the third quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Korn Ferry by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,443 shares of the business services provider’s stock valued at $861,000 after buying an additional 433 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Korn Ferry by 17.3% during the third quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock worth $407,000 after buying an additional 800 shares during the last quarter. 98.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on KFY shares. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial increased their target price on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

Korn Ferry Price Performance

Shares of KFY opened at $68.93 on Thursday. The stock has a 50 day simple moving average of $67.37 and a 200 day simple moving average of $70.44. Korn Ferry has a 52-week low of $59.78 and a 52-week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $3.56 billion, a PE ratio of 14.73 and a beta of 1.57.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06. The company had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Sell-side analysts predict that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.48 per share. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. This represents a $1.92 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, March 27th. Korn Ferry’s dividend payout ratio is currently 41.29%.

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.