Brevan Howard Capital Management LP Invests $436,000 in Kforce Inc. (NASDAQ:KFRC)

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of KFRC. Marshall Wace LLP purchased a new stake in shares of Kforce in the 4th quarter valued at about $6,683,000. Tributary Capital Management LLC increased its position in Kforce by 38.3% during the fourth quarter. Tributary Capital Management LLC now owns 422,930 shares of the business services provider's stock worth $23,980,000 after buying an additional 117,231 shares during the period. Raymond James Financial Inc. purchased a new stake in Kforce in the fourth quarter valued at approximately $5,146,000. Proficio Capital Partners LLC acquired a new stake in shares of Kforce in the fourth quarter valued at approximately $4,951,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Kforce by 36.3% in the fourth quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider's stock valued at $16,846,000 after acquiring an additional 79,100 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Kforce Price Performance

Shares of Kforce stock traded up $2.50 during trading on Monday, reaching $41.75. The company's stock had a trading volume of 209,129 shares, compared to its average volume of 128,606. The business has a 50 day moving average price of $45.56 and a 200-day moving average price of $52.42. Kforce Inc. has a 12-month low of $35.50 and a 12-month high of $71.48. The company has a market capitalization of $777.71 million, a P/E ratio of 15.58 and a beta of 0.74. 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 posted 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 company had revenue of $330.03 million for the quarter, compared to analyst estimates of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The business's revenue for the quarter 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. As a group, sell-side analysts anticipate that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.74%. Kforce's payout ratio is 61.18%.

Insider Buying and Selling at Kforce

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of the stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $37.80 per share, for a total transaction 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 trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on KFRC. StockNews.com downgraded shares of Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. UBS Group dropped their price objective on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research note 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.