Brevan Howard Capital Management LP Buys Shares of 7,692 Kforce Inc. (NASDAQ:KFRC)

Brevan Howard Capital Management LP bought a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,692 shares of the business services provider's stock, valued at approximately $436,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of Kforce by 147.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock worth $63,000 after buying an additional 666 shares during the period. Blue Trust Inc. lifted its holdings in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock worth $111,000 after acquiring an additional 275 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock worth $144,000 after acquiring an additional 485 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Kforce during the fourth quarter valued at approximately $206,000. Finally, Callan Family Office LLC acquired a new stake in Kforce in the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Insider Activity at Kforce

In related news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $37.80 per share, with a total value of $37,800.00. Following the completion of the transaction, the director now directly owns 517,329 shares of the company's stock, valued at $19,555,036.20. This represents a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Kforce Price Performance

KFRC stock traded up $0.66 during midday trading on Thursday, reaching $41.56. 19,413 shares of the company's stock traded hands, compared to its average volume of 128,785. The company has a 50-day simple moving average of $45.18 and a two-hundred day simple moving average of $52.27. The company has a market cap of $774.17 million, a price-to-earnings ratio of 15.51 and a beta of 0.74. Kforce Inc. has a 1-year low of $35.50 and a 1-year high of $71.48. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

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

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.75%. Kforce's dividend payout ratio is 61.18%.

Analyst Upgrades and Downgrades

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

Kforce Profile

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.