20,724 Shares in Kforce Inc. (NASDAQ:KFRC) Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,724 shares of the business services provider's stock, valued at approximately $1,013,000. Azzad Asset Management Inc. ADV owned approximately 0.11% of Kforce at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kforce during the fourth quarter worth about $42,000. Tower Research Capital LLC TRC grew its holdings in shares of Kforce by 147.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock worth $63,000 after purchasing an additional 666 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Kforce by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock worth $144,000 after purchasing an additional 485 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Kforce during the fourth quarter worth about $145,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Kforce during the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 92.77% of the company's stock.

Insider Buying and Selling at Kforce

In related news, Director David L. Dunkel acquired 1,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $37.80 per share, for a total transaction of $37,800.00. Following the acquisition, the director now 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 legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company's stock.

Kforce Price Performance

NASDAQ:KFRC traded up $0.00 during mid-day trading on Wednesday, reaching $40.30. The stock had a trading volume of 89,640 shares, compared to its average volume of 131,915. The firm has a 50 day moving average price of $41.54 and a two-hundred day moving average price of $49.19. The stock has a market capitalization of $750.86 million, a P/E ratio of 15.03 and a beta of 0.75. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06.

Kforce (NASDAQ:KFRC - Get Free Report) last released its 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). Kforce had a return on equity of 30.34% and a net margin of 3.59%. The firm had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The business's quarterly revenue was down 6.2% compared to the same quarter last year. As a group, analysts expect that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.87%. Kforce's payout ratio is currently 61.18%.

Analysts Set New Price Targets

Several brokerages have recently commented on KFRC. UBS Group cut 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. Wall Street Zen lowered Kforce from a "buy" rating to a "hold" rating in a 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 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.