Korn Ferry (NYSE:KFY) Stock Price Expected to Rise, Truist Financial Analyst Says

Korn Ferry (NYSE:KFY) had its price objective boosted by equities researchers at Truist Financial from $78.00 to $84.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target indicates a potential upside of 16.50% from the stock’s current price.

Korn Ferry Price Performance

Korn Ferry stock opened at $72.10 on Friday. The firm has a market capitalization of $3.75 billion, a PE ratio of 20.60 and a beta of 1.56. Korn Ferry has a 52 week low of $51.62 and a 52 week high of $80.64. The firm’s 50-day simple moving average is $74.22 and its 200 day simple moving average is $70.65. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.23.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Korn Ferry will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Korn Ferry news, CEO Gary D. Burnison sold 16,274 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 356,844 shares in the company, valued at approximately $26,424,298.20. The trade was a 4.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Debra J. Perry sold 5,280 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $73.30, for a total value of $387,024.00. Following the sale, the director now owns 46,180 shares in the company, valued at $3,384,994. This trade represents a 10.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,201 shares of company stock valued at $6,329,320. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Korn Ferry

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Korn Ferry by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,281,186 shares of the business services provider’s stock valued at $220,296,000 after acquiring an additional 48,993 shares during the last quarter. State Street Corp increased its position in Korn Ferry by 2.0% during the third quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock worth $156,503,000 after purchasing an additional 40,240 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Korn Ferry during the third quarter worth approximately $103,546,000. Geode Capital Management LLC boosted its holdings in shares of Korn Ferry by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after purchasing an additional 28,014 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Korn Ferry by 13.2% in the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock valued at $74,337,000 after purchasing an additional 115,523 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

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.