Ameriprise Financial Inc. Has $4.27 Million Position in Kforce Inc. (NASDAQ:KFRC)

Ameriprise Financial Inc. increased its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,245 shares of the business services provider's stock after purchasing an additional 16,378 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.39% of Kforce worth $4,266,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of Kforce in the fourth quarter worth about $6,683,000. Raymond James Financial Inc. acquired a new position in Kforce during the fourth quarter valued at approximately $5,146,000. Proficio Capital Partners LLC acquired a new position in Kforce during the fourth quarter valued at approximately $4,951,000. Wellington Management Group LLP lifted its stake in 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 buying an additional 79,100 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in Kforce by 271.1% in the fourth quarter. Trexquant Investment LP now owns 78,283 shares of the business services provider's stock valued at $4,439,000 after buying an additional 57,187 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Insiders Place Their Bets

In other news, Director David L. Dunkel purchased 1,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the completion of the transaction, the director now owns 517,329 shares of the company's stock, valued at $19,555,036.20. The trade was a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KFRC. Truist Financial cut their price target on shares of Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Wall Street Zen lowered shares of Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Finally, UBS Group cut their price objective on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th.

Kforce Stock Down 2.5%

Shares of KFRC stock traded down $1.04 during trading on Wednesday, reaching $40.57. The company's stock had a trading volume of 99,486 shares, compared to its average volume of 130,096. The business has a fifty day moving average price of $43.55 and a 200-day moving average price of $51.13. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $755.82 million, a price-to-earnings ratio of 15.14 and a beta of 0.74. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48.

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 (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). Kforce had a return on equity of 30.34% and a net margin of 3.59%. The firm had revenue of $330.03 million for the quarter, compared to the consensus estimate of $334.61 million. During the same period last year, the company posted $0.58 earnings per share. The business's revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Dividend Announcement

The company also recently declared 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. This represents a $1.56 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, June 13th. Kforce's dividend payout ratio (DPR) is currently 61.18%.

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.