Charles Schwab Investment Management Inc. Boosts Holdings in Kforce Inc. $KFRC

Charles Schwab Investment Management Inc. raised its holdings in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,007 shares of the business services provider's stock after acquiring an additional 50,044 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 4.34% of Kforce worth $39,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tributary Capital Management LLC increased its holdings in Kforce by 9.3% during the 1st quarter. Tributary Capital Management LLC now owns 462,268 shares of the business services provider's stock valued at $22,600,000 after acquiring an additional 39,338 shares in the last quarter. Wellington Management Group LLP increased its holdings in Kforce by 36.3% during the 4th 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 in the last quarter. Northern Trust Corp increased its holdings in Kforce by 5.6% during the 4th quarter. Northern Trust Corp now owns 258,765 shares of the business services provider's stock valued at $14,672,000 after acquiring an additional 13,811 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Kforce by 5.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 175,433 shares of the business services provider's stock valued at $8,577,000 after acquiring an additional 8,995 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Kforce by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,463 shares of the business services provider's stock valued at $7,307,000 after acquiring an additional 492 shares in the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. UBS Group decreased their price target on shares of Kforce from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Truist Financial decreased their price target on shares of Kforce from $50.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th.

Kforce Price Performance

Kforce stock opened at $32.38 on Monday. Kforce Inc. has a 12-month low of $30.44 and a 12-month high of $67.33. The stock has a market capitalization of $602.24 million, a P/E ratio of 12.08 and a beta of 0.75. The firm's 50-day moving average is $39.95 and its two-hundred day moving average is $43.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $334.32 million for the quarter, compared to analyst estimates of $333.78 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. Kforce's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. Equities analysts predict that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, September 12th. Kforce's dividend payout ratio is presently 65.27%.

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.

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