Shares of the leading specialized staffing firm Robert Half International Inc. (RHI), reached a 52-week high of $41.24 on Friday, Dec 20, 2013 following the launch of a mobile application, Protiviti Mobiliti, by Protiviti, the wholly owned subsidiary of RHI
The closing price of Robert Half on Dec 20 was $41.16, yielding a year-to-date return of 26.4%.
Share Price Drivers
Protiviti, the global consulting firm, has announced the launch of its Protiviti Mobiliti, which is targeted at on-the-go professionals. The mobile application provides the latest reports, surveys and podcasts about governance, risk, compliance and internal audit.
This will help professionals improve their businesses by providing insights to its users. The content can be browsed by popularity, industry and topic.
The product launch will help Robert Half boost its already strong top-line results.In fact, Protiviti has been contributing significantly in driving revenues and operating growth of the company. In the U.S., the technology sector leads the way as far as hiring is concerned, which is reflected in Protiviti’s performance.
The company has been witnessing growth across all consulting solutions, particularly technology and risk and regulatory compliance in the financial services industry. It is believed that the shortage of skills in these areas, especially technology and accounting, has spurred the growth. Protiviti is expected to continue its growth momentum in the upcoming quarters with the expectation of an improving economy in 2014 and beyond.
Other Stocks to Consider
Robert Half carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the business services sector include On Assignment Inc. (ASGN), Manpower, Inc. (MAN) and Korn/Ferry International (KFY). All these stocks have a Zacks Rank #2 (Buy).