Wedge Capital Management L L P NC Has $5.24 Million Stock Holdings in Korn Ferry (NYSE:KFY)

Wedge Capital Management L L P NC grew its holdings in shares of Korn Ferry (NYSE:KFY - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,613 shares of the business services provider's stock after acquiring an additional 4,388 shares during the quarter. Wedge Capital Management L L P NC owned about 0.15% of Korn Ferry worth $5,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KFY. Ritholtz Wealth Management acquired a new stake in shares of Korn Ferry in the 4th quarter worth approximately $222,000. Heritage Family Offices LLP lifted its position in Korn Ferry by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider's stock worth $260,000 after purchasing an additional 259 shares during the period. JPMorgan Chase & Co. boosted its stake in Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock valued at $32,050,000 after purchasing an additional 281,024 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Korn Ferry by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider's stock valued at $20,463,000 after purchasing an additional 14,601 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Korn Ferry by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 25,133 shares of the business services provider's stock valued at $1,824,000 after purchasing an additional 1,663 shares during the period. Institutional investors own 98.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KFY. StockNews.com raised Korn Ferry from a "hold" rating to a "buy" rating in a research note on Tuesday, December 17th. Truist Financial lifted their price objective on shares of Korn Ferry from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Buying and Selling at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total value of $1,444,800.00. Following the completion of the sale, the chief executive officer now directly owns 68,869 shares of the company's stock, valued at $4,975,096.56. This represents a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Korn Ferry Trading Up 1.3 %

Shares of NYSE KFY traded up $0.93 during mid-day trading on Friday, hitting $70.69. 522,166 shares of the company traded hands, compared to its average volume of 322,048. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a 1 year low of $55.26 and a 1 year high of $80.64. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.11 and a beta of 1.57. The business has a 50 day moving average of $71.77 and a two-hundred day moving average of $71.19.

Korn Ferry (NYSE:KFY - Get Free Report) last posted its quarterly earnings data 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 net margin of 9.03% and a return on equity of 14.27%. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 earnings per share. On average, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, December 20th. Korn Ferry's payout ratio is 31.62%.

About Korn Ferry

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.