Edgestream Partners L.P. Purchases Shares of 86,128 Korn Ferry (NYSE:KFY)

Edgestream Partners L.P. acquired a new position in Korn Ferry (NYSE:KFY) during the third quarter, according to its most recent filing with the SEC. The firm acquired 86,128 shares of the business services provider’s stock, valued at approximately $6,480,000. Edgestream Partners L.P. owned about 0.17% of Korn Ferry as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Korn Ferry by 112.0% in the second quarter. EverSource Wealth Advisors LLC now owns 388 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. CWM LLC boosted its stake in shares of Korn Ferry by 97.3% during the 2nd quarter. CWM LLC now owns 890 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 439 shares in the last quarter. Quarry LP boosted its stake in shares of Korn Ferry by 149.1% during the 2nd quarter. Quarry LP now owns 1,380 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Korn Ferry by 28.2% during the second quarter. GAMMA Investing LLC now owns 1,392 shares of the business services provider’s stock valued at $93,000 after buying an additional 306 shares during the period. Finally, Innealta Capital LLC bought a new position in Korn Ferry in the second quarter worth about $101,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn Ferry Stock Performance

Korn Ferry stock opened at $78.34 on Friday. Korn Ferry has a fifty-two week low of $51.12 and a fifty-two week high of $80.64. The stock’s 50 day simple moving average is $73.87 and its two-hundred day simple moving average is $70.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 22.38 and a beta of 1.55.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings results 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 return on equity of 13.73% and a net margin of 6.68%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, analysts expect that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

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

Insiders Place Their Bets

In other Korn Ferry news, insider Michael Distefano sold 5,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.36, for a total value of $361,800.00. Following the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $3,687,031.44. The trade was a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Debra J. Perry sold 5,280 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total value of $387,024.00. Following the transaction, the director now owns 46,180 shares of the company’s stock, valued at $3,384,994. The trade was a 10.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,201 shares of company stock worth $6,329,320. 1.40% of the stock is currently owned by company insiders.

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.