Alliancebernstein L.P. Sells 171,046 Shares of Korn Ferry (NYSE:KFY)

Alliancebernstein L.P. lessened its stake in shares of Korn Ferry (NYSE:KFY) by 6.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,339,302 shares of the business services provider’s stock after selling 171,046 shares during the period. Alliancebernstein L.P. owned 4.29% of Korn Ferry worth $169,272,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in Korn Ferry by 42.9% during the first quarter. First Trust Advisors LP now owns 47,934 shares of the business services provider’s stock worth $2,146,000 after buying an additional 14,393 shares during the last quarter. HighTower Advisors LLC bought a new position in Korn Ferry during the second quarter valued at about $213,000. O Shaughnessy Asset Management LLC grew its position in Korn Ferry by 90.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 527 shares of the business services provider’s stock valued at $38,000 after buying an additional 251 shares during the period. Citigroup Inc. grew its position in Korn Ferry by 121.1% during the second quarter. Citigroup Inc. now owns 42,294 shares of the business services provider’s stock valued at $3,068,000 after buying an additional 23,167 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in Korn Ferry by 447.9% during the second quarter. Panagora Asset Management Inc. now owns 2,904 shares of the business services provider’s stock worth $211,000 after purchasing an additional 2,374 shares during the period. Institutional investors own 92.97% of the company’s stock.

In other Korn Ferry news, CEO Gary D. Burnison sold 9,779 shares of the business’s stock in a transaction dated Wednesday, January 5th. The stock was sold at an average price of $77.72, for a total value of $760,023.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.

NYSE:KFY opened at $73.40 on Friday. The stock has a market cap of $3.99 billion, a P/E ratio of 14.98 and a beta of 1.50. The firm’s fifty day simple moving average is $76.65 and its 200 day simple moving average is $73.20. Korn Ferry has a twelve month low of $45.60 and a twelve month high of $84.68. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Wednesday, December 8th. The business services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.16. Korn Ferry had a net margin of 11.83% and a return on equity of 19.88%. The business had revenue of $639.40 million for the quarter, compared to analysts’ expectations of $604.67 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. On average, analysts expect that Korn Ferry will post 5.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Tuesday, December 21st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Monday, December 20th. Korn Ferry’s dividend payout ratio is presently 9.80%.

KFY has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Friday, November 19th. Robert W. Baird raised their target price on shares of Korn Ferry from $98.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, December 9th.

Korn Ferry Company Profile

Korn Ferry operates as a global organizational consulting firm, which engages in synchronizing its clients strategy, operations and talent to drive superior business performance. It operates through the following segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, and RPO & Professional Search.

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Institutional Ownership by Quarter for Korn Ferry (NYSE:KFY)

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