Norges Bank Takes Position in Korn/Ferry International $KFY

Norges Bank purchased a new stake in Korn/Ferry International (NYSE:KFY) during the fourth quarter, Holdings Channel reports. The firm purchased 653,787 shares of the business services provider’s stock, valued at approximately $43,163,000.

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. bought a new stake in shares of Korn/Ferry International in the 3rd quarter valued at about $10,993,000. Public Sector Pension Investment Board boosted its holdings in shares of Korn/Ferry International by 15.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 204,114 shares of the business services provider’s stock valued at $14,284,000 after buying an additional 28,069 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of Korn/Ferry International by 112.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 31,929 shares of the business services provider’s stock valued at $2,234,000 after buying an additional 16,913 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Korn/Ferry International by 22.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 95,680 shares of the business services provider’s stock valued at $6,696,000 after buying an additional 17,500 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Korn/Ferry International by 28.2% in the 3rd quarter. Royce & Associates LP now owns 661,915 shares of the business services provider’s stock valued at $46,321,000 after buying an additional 145,520 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Korn/Ferry International Stock Performance

Shares of KFY opened at $72.74 on Tuesday. The stock has a 50-day moving average of $66.22 and a two-hundred day moving average of $65.64. Korn/Ferry International has a one year low of $58.95 and a one year high of $78.50. 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 stock has a market cap of $3.77 billion, a P/E ratio of 14.38 and a beta of 1.21.

Korn/Ferry International (NYSE:KFY) last issued its quarterly earnings results on Monday, March 9th. The business services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Korn/Ferry International had a return on equity of 14.36% and a net margin of 9.29%.The company had revenue of $725.04 million during the quarter, compared to analysts’ expectations of $692.45 million. During the same quarter in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Korn/Ferry International will post 5.29 EPS for the current year.

Korn/Ferry International Profile

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.