Bank of New York Mellon Corp Increases Stake in Korn Ferry (NYSE:KFY)

Bank of New York Mellon Corp grew its stake in Korn Ferry (NYSE:KFY - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 811,812 shares of the business services provider's stock after acquiring an additional 27,292 shares during the quarter. Bank of New York Mellon Corp owned about 1.57% of Korn Ferry worth $54,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Korn Ferry during the 3rd quarter worth about $103,546,000. JPMorgan Chase & Co. increased its position in shares of Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock worth $32,050,000 after purchasing an additional 281,024 shares during the last quarter. Barclays PLC increased its position in shares of Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider's stock worth $18,053,000 after purchasing an additional 135,148 shares during the last quarter. Jennison Associates LLC increased its position in shares of Korn Ferry by 13.2% during the 3rd quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider's stock worth $74,337,000 after purchasing an additional 115,523 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Korn Ferry by 14.2% during the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider's stock worth $50,818,000 after purchasing an additional 93,591 shares during the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

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Korn Ferry Trading Up 0.7 %

Korn Ferry stock traded up $0.45 during midday trading on Friday, reaching $65.67. 417,286 shares of the stock traded hands, compared to its average volume of 316,850. The company has a 50-day simple moving average of $67.66 and a two-hundred day simple moving average of $70.88. Korn Ferry has a 12-month low of $59.78 and a 12-month high of $80.64. The firm has a market cap of $3.39 billion, a PE ratio of 14.03 and a beta of 1.57. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY - Get Free Report) last announced its earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting analysts' consensus estimates of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $682.00 million during the quarter, compared to analysts' expectations of $675.35 million. During the same period last year, the business posted $0.97 EPS. Korn Ferry's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com raised Korn Ferry from a "hold" rating to a "buy" rating in a research report on Tuesday, December 17th. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, December 6th.

Insider Activity at Korn Ferry

In related news, CEO Mark Arian sold 20,000 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the transaction, the chief executive officer now directly owns 68,869 shares in the company, valued at $4,975,096.56. This trade represents a 22.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

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.