Bank of America Corp DE Trims Stake in Kforce Inc. (NASDAQ:KFRC)

Bank of America Corp DE decreased its holdings in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,111 shares of the business services provider's stock after selling 14,481 shares during the period. Bank of America Corp DE owned approximately 0.18% of Kforce worth $1,991,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KFRC. Tower Research Capital LLC TRC boosted its stake in 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 valued at $63,000 after buying an additional 666 shares during the period. Blue Trust Inc. lifted its stake in Kforce by 17.9% during the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock worth $111,000 after purchasing an additional 275 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 during the last quarter. QRG Capital Management Inc. bought a new stake in Kforce during the fourth quarter worth about $206,000. Finally, Callan Family Office LLC bought a new stake in Kforce during the fourth quarter worth about $207,000. Institutional investors own 92.77% of the company's stock.

Insider Activity

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the acquisition, the director now directly owns 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on KFRC. Truist Financial dropped their price target on Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. UBS Group dropped their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.

Kforce Trading Down 0.1%

Shares of NASDAQ KFRC traded down $0.04 during midday trading on Wednesday, reaching $41.26. The company had a trading volume of 91,210 shares, compared to its average volume of 131,208. Kforce Inc. has a one year low of $35.50 and a one 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. The firm's fifty day moving average price is $42.74 and its 200-day moving average price is $50.45. The stock has a market cap of $768.67 million, a PE ratio of 15.40 and a beta of 0.74.

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 net margin of 3.59% and a return on equity of 30.34%. The company had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. During the same period last year, the firm posted $0.58 EPS. The company's revenue was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's dividend payout ratio (DPR) is presently 61.18%.

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.