653,787 Shares in Korn/Ferry International $KFY Purchased by Norges Bank

Norges Bank purchased a new position in Korn/Ferry International (NYSE:KFY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 653,787 shares of the business services provider’s stock, valued at approximately $43,163,000. Norges Bank owned 1.25% of Korn/Ferry International at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in KFY. Wellington Management Group LLP increased its stake in Korn/Ferry International by 48.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,475,576 shares of the business services provider’s stock worth $243,221,000 after buying an additional 1,132,473 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Korn/Ferry International in the 2nd quarter worth about $32,559,000. Bank of America Corp DE increased its stake in Korn/Ferry International by 68.4% in the 2nd quarter. Bank of America Corp DE now owns 665,145 shares of the business services provider’s stock worth $48,775,000 after buying an additional 270,256 shares during the period. M&T Bank Corp increased its stake in Korn/Ferry International by 5,956.0% in the 4th quarter. M&T Bank Corp now owns 229,884 shares of the business services provider’s stock worth $15,177,000 after buying an additional 226,088 shares during the period. Finally, Millennium Management LLC increased its stake in Korn/Ferry International by 160.6% in the 3rd quarter. Millennium Management LLC now owns 286,640 shares of the business services provider’s stock worth $20,059,000 after buying an additional 176,666 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn/Ferry International Trading Up 0.6%

NYSE KFY opened at $72.74 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 14.38 and a beta of 1.21. The company’s 50-day simple moving average is $66.22 and its two-hundred day simple moving average is $65.64. Korn/Ferry International has a one year low of $58.95 and a one year high of $78.50.

Korn/Ferry International (NYSE:KFY) last posted its earnings results on Monday, March 9th. The business services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $725.04 million for the quarter, compared to the consensus estimate of $692.45 million. Korn/Ferry International had a net margin of 9.29% and a return on equity of 14.36%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. Equities analysts forecast that Korn/Ferry International will post 5.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KFY shares. Weiss Ratings raised shares of Korn/Ferry International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 1st. UBS Group raised their price target on shares of Korn/Ferry International from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen raised shares of Korn/Ferry International from a “hold” rating to a “buy” rating in a research report on Sunday, March 1st. Finally, Truist Financial cut their target price on shares of Korn/Ferry International from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Korn/Ferry International presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

About Korn/Ferry International

Korn Ferry International is a global organizational consulting firm that partners with clients to design optimal structures, roles and responsibilities. The company’s core offerings include executive search, talent acquisition, leadership development and succession planning. By blending deep industry expertise with data-driven insights, Korn Ferry helps organizations identify, assess and develop executives and high-potential talent for critical roles.

Since its founding in 1969 and with headquarters in Los Angeles, Korn Ferry has expanded its presence to more than 50 offices across North America, Europe, Asia Pacific and Latin America.