Credit Suisse AG Purchases 39,177 Shares of Korn/Ferry International (KFY)
Credit Suisse AG grew its position in shares of Korn/Ferry International (NYSE:KFY) by 76.9% during the third quarter, Holdings Channel reports. The institutional investor owned 90,114 shares of the business services provider’s stock after purchasing an additional 39,177 shares during the quarter. Credit Suisse AG’s holdings in Korn/Ferry International were worth $4,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Portformulas Corp purchased a new position in shares of Korn/Ferry International during the 3rd quarter valued at $106,000. Flagship Harbor Advisors LLC purchased a new position in shares of Korn/Ferry International during the 2nd quarter valued at $142,000. BlueMountain Capital Management LLC purchased a new stake in Korn/Ferry International during the 2nd quarter worth about $157,000. First Quadrant L P CA purchased a new stake in Korn/Ferry International during the 3rd quarter worth about $174,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Korn/Ferry International by 44.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the business services provider’s stock worth $244,000 after purchasing an additional 1,517 shares in the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on KFY. ValuEngine cut Korn/Ferry International from a “buy” rating to a “hold” rating in a report on Monday, September 10th. Zacks Investment Research raised Korn/Ferry International from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, September 11th. SunTrust Banks dropped their price objective on Korn/Ferry International to $63.00 and set a “buy” rating on the stock in a report on Friday, December 7th. Credit Suisse Group dropped their price objective on Korn/Ferry International from $44.00 to $40.00 and set an “underperform” rating on the stock in a report on Friday, December 7th. Finally, TheStreet raised Korn/Ferry International from a “c” rating to a “b” rating in a report on Friday, December 7th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Korn/Ferry International presently has an average rating of “Hold” and an average target price of $58.25.
Korn/Ferry International (NYSE:KFY) last issued its quarterly earnings data on Thursday, December 6th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $495.20 million for the quarter, compared to analysts’ expectations of $485.94 million. Korn/Ferry International had a return on equity of 15.01% and a net margin of 3.92%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. As a group, research analysts expect that Korn/Ferry International will post 3.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Thursday, December 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. Korn/Ferry International’s dividend payout ratio (DPR) is 14.71%.
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Korn/Ferry International Company Profile
Korn/Ferry International, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.
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