Cubist Systematic Strategies LLC Acquires New Holdings in Kforce Inc. (NASDAQ:KFRC)

Cubist Systematic Strategies LLC purchased a new stake in Kforce Inc. (NASDAQ:KFRC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,388 shares of the business services provider's stock, valued at approximately $1,326,000. Cubist Systematic Strategies LLC owned about 0.12% of Kforce as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KFRC. Marshall Wace LLP bought a new position in shares of Kforce in the fourth quarter valued at about $6,683,000. Tributary Capital Management LLC raised its holdings in shares of Kforce by 38.3% in the fourth quarter. Tributary Capital Management LLC now owns 422,930 shares of the business services provider's stock valued at $23,980,000 after buying an additional 117,231 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Kforce during the 4th quarter worth about $5,146,000. Proficio Capital Partners LLC bought a new stake in Kforce during the 4th quarter worth about $4,951,000. Finally, Wellington Management Group LLP raised its holdings in Kforce by 36.3% during the 4th quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider's stock worth $16,846,000 after purchasing an additional 79,100 shares during the last quarter. 92.77% of the stock is owned by institutional investors.

Kforce Trading Up 0.3%

Shares of KFRC stock traded up $0.14 on Friday, reaching $42.08. The company had a trading volume of 99,243 shares, compared to its average volume of 129,442. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $783.93 million, a PE ratio of 15.70 and a beta of 0.74. The company has a 50-day moving average of $44.80 and a 200-day moving average of $52.07. Kforce Inc. has a 12 month low of $35.50 and a 12 month high of $71.48.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The company had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The business's revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. On average, equities analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.71%. Kforce's dividend payout ratio (DPR) is presently 61.18%.

Insider Activity

In related news, Director David L. Dunkel purchased 1,000 shares of the stock in a transaction dated Monday, May 5th. The stock was bought at an average cost of $37.80 per share, with a total value of $37,800.00. Following the purchase, the director now directly owns 517,329 shares in the company, valued at $19,555,036.20. The trade was a 0.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KFRC has been the subject of several recent research reports. Truist Financial dropped their price objective on Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. UBS Group dropped their price objective on Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, StockNews.com cut Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.