Envestnet Asset Management Inc. Boosts Stake in Kforce Inc. (NASDAQ:KFRC)

Envestnet Asset Management Inc. grew its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,433 shares of the business services provider's stock after purchasing an additional 8,995 shares during the period. Envestnet Asset Management Inc. owned approximately 0.92% of Kforce worth $8,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Kforce by 0.3% in the first 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 purchasing an additional 492 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Kforce by 2.5% in the first quarter. Teacher Retirement System of Texas now owns 113,958 shares of the business services provider's stock worth $5,571,000 after acquiring an additional 2,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kforce by 10.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,019 shares of the business services provider's stock worth $687,000 after acquiring an additional 1,362 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Kforce by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 35,834 shares of the business services provider's stock valued at $1,752,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new position in Kforce in the first quarter valued at $1,013,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David L. Dunkel acquired 1,000 shares of Kforce stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the transaction, the director owned 517,329 shares of the company's stock, valued at $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Kforce Stock Up 2.8%

NASDAQ:KFRC traded up $1.25 during trading hours on Thursday, hitting $46.27. The company's stock had a trading volume of 130,883 shares, compared to its average volume of 142,322. Kforce Inc. has a 52-week low of $35.50 and a 52-week high of $71.48. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $861.92 million, a P/E ratio of 17.26 and a beta of 0.75. The stock has a fifty day moving average of $41.75 and a 200-day moving average of $46.40.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $330.03 million for the quarter, compared to analyst estimates of $334.61 million. During the same period in the prior year, the company posted $0.58 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. On average, equities analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.39 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.37%. Kforce's dividend payout ratio is currently 61.18%.

Analyst Upgrades and Downgrades

KFRC has been the topic of several recent research reports. UBS Group cut their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Truist Financial lowered their price objective on Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut shares of Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

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.