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Retirement Systems of Alabama cut its stake in Robert Half International Inc. (NYSE:RHI) by 19.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 235,028 shares of the business services provider’s stock after selling 56,939 shares during the period. Retirement Systems of Alabama owned 0.19% of Robert Half International worth $16,541,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of RHI. Summit Trail Advisors LLC lifted its holdings in Robert Half International by 5,585.0% in the first quarter. Summit Trail Advisors LLC now owns 100,739 shares of the business services provider’s stock worth $101,000 after buying an additional 98,967 shares during the period. NEXT Financial Group Inc purchased a new stake in Robert Half International in the third quarter worth about $106,000. Cleararc Capital Inc. purchased a new stake in Robert Half International in the second quarter worth about $205,000. TNB Financial purchased a new stake in Robert Half International in the second quarter worth about $209,000. Finally, Visionary Asset Management Inc. purchased a new stake in Robert Half International in the third quarter worth about $222,000. Institutional investors and hedge funds own 89.51% of the company’s stock.
RHI has been the subject of several recent research reports. Goldman Sachs Group lowered shares of Robert Half International from a “neutral” rating to a “sell” rating and lowered their target price for the company from $70.00 to $67.00 in a report on Wednesday, September 5th. Nomura lifted their target price on shares of Robert Half International from $80.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research lowered shares of Robert Half International from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Bank of America initiated coverage on shares of Robert Half International in a report on Tuesday, October 23rd. They set a “buy” rating and a $74.00 target price for the company. Finally, Credit Suisse Group initiated coverage on shares of Robert Half International in a report on Friday, August 10th. They set an “underperform” rating and a $57.00 target price for the company. Three research badysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $68.31.
RHI stock opened at $58.53 on Monday. Robert Half International Inc. has a 52-week low of $50.90 and a 52-week high of $79.91. The company has a market cap of $7.17 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.24 and a beta of 1.16.
Robert Half International (NYSE:RHI) last released its earnings results on Tuesday, October 23rd. The business services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.04. Robert Half International had a net margin of 6.49% and a return on equity of 36.34%. The firm had revenue of $1.47 billion during the quarter, compared to badyst estimates of $1.47 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side badysts predict that Robert Half International Inc. will post 3.54 EPS for the current fiscal year.
In related news, EVP Robert W. Glbad sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $77.50, for a total transaction of $3,100,000.00. Following the completion of the sale, the executive vice president now owns 271,364 shares of the company’s stock, valued at $21,030,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.
About Robert Half International
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative badistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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