Korn Ferry (NYSE:KFY) Hits New 52-Week High – Here’s Why

Shares of Korn Ferry (NYSE:KFY) reached a new 52-week high during trading on Wednesday . The company traded as high as $78.62 and last traded at $78.24, with a volume of 4238 shares trading hands. The stock had previously closed at $73.90.

Korn Ferry Trading Up 0.6 %

The firm’s 50 day moving average is $71.95 and its 200 day moving average is $68.69. The company has a market cap of $4.08 billion, a PE ratio of 22.27 and a beta of 1.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 2.15.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.06. The company had revenue of $682.80 million for the quarter, compared to analysts’ expectations of $663.84 million. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. Korn Ferry’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities analysts anticipate that Korn Ferry will post 4.83 earnings per share for the current year.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, September 19th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.89%. Korn Ferry’s dividend payout ratio is 42.29%.

Insider Transactions at Korn Ferry

In other news, insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the completion of the sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Gary D. Burnison sold 38,726 shares of Korn Ferry stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total value of $2,795,242.68. Following the sale, the chief executive officer now owns 273,118 shares in the company, valued at $19,713,657.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $72.36, for a total transaction of $361,800.00. Following the transaction, the insider now owns 50,954 shares in the company, valued at $3,687,031.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,201 shares of company stock worth $6,329,320. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in Korn Ferry by 100.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 10,850 shares of the business services provider’s stock valued at $714,000 after purchasing an additional 5,441 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Korn Ferry by 72.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,229 shares of the business services provider’s stock worth $1,725,000 after acquiring an additional 11,039 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Korn Ferry by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,983 shares of the business services provider’s stock valued at $3,024,000 after buying an additional 453 shares in the last quarter. LSV Asset Management bought a new position in shares of Korn Ferry in the first quarter worth about $1,042,000. Finally, Quantbot Technologies LP bought a new position in Korn Ferry in the 1st quarter worth approximately $281,000. Institutional investors own 98.82% of the company’s stock.

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.