Debra J. Perry, a director at Korn Ferry (NYSE:KFY), recently sold 5,280 shares of the company's common stock. The shares were sold at an average price of $73.3033, amounting to a total transaction value of approximately $387,041. Following this sale, Perry holds 46,180 shares in the company.
The transaction, which took place on October 15, 2024, involved multiple trades with prices ranging from $73.3017 to $73.3850. The weighted average sale price was reported in the filing. Korn Ferry, based in Los Angeles, is known for its services in the employment agency sector.
In other recent news, Korn Ferry, a global organizational consulting firm, has reported robust results for Q1 FY2025, with fee revenue and profitability meeting or exceeding company expectations. The firm announced an expanded adjusted EBITDA margin and a 36% increase in employee productivity from pre-pandemic levels. Korn Ferry's capital allocation strategy included significant returns to shareholders, new hires, digital upgrades, and technology investments. For Q2, the company anticipates fee revenue to be between $655 million and $685 million, with an adjusted EBITDA margin of 6.3% to 16.7% and GAAP diluted earnings per share of $1.11 to $1.23.
In addition to these financial results, Korn Ferry has elected Russ Hagey, a former Bain & Company leader with over 40 years of experience, to its board of directors. Hagey's expertise spans corporate strategy, growth, new product development, and sales operations, and his addition is expected to contribute to the board's strategy and oversight as Korn Ferry navigates the evolving consulting industry landscape.
Despite a decline in Professional Search and interim fee revenues, Korn Ferry sees signs of stabilization and expects growth in its net consultants across various business segments in the coming year. However, the decline in flights to China has negatively impacted the business, leading to decreased revenue. Despite these challenges, Korn Ferry remains confident in capturing future growth opportunities with its improved investable cash position of $553 million.
InvestingPro Insights
Following the recent insider sale by director Debra J. Perry, investors might be interested in additional context regarding Korn Ferry's financial health and market position. According to InvestingPro data, Korn Ferry currently boasts a market capitalization of $3.83 billion, with a P/E ratio of 20.74, suggesting the stock is trading at a premium compared to its earnings.
An InvestingPro Tip highlights that Korn Ferry holds more cash than debt on its balance sheet, indicating a strong financial position. This aligns with another tip noting that the company's liquid assets exceed short-term obligations, which could provide reassurance to investors concerned about the company's ability to meet its near-term financial commitments.
Despite the recent insider sale, Korn Ferry has demonstrated a commitment to shareholder returns. An InvestingPro Tip reveals that the company has raised its dividend for 4 consecutive years, with a current dividend yield of 2.04%. This consistent dividend growth, coupled with a strong 52.73% price total return over the past year, suggests that the company has been rewarding its shareholders.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Korn Ferry, providing a deeper understanding of the company's financial health and market position. These insights could be particularly valuable in light of the recent insider transaction and the company's current market valuation.
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