Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,261,972 shares of the business services provider's stock after selling 145,334 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 11.86% of Kforce worth $128,254,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Kforce in the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC grew its holdings in Kforce by 147.3% in 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 during the period. Blue Trust Inc. increased its stake in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after purchasing an additional 275 shares in the last quarter. PNC Financial Services Group Inc. raised 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 valued at $144,000 after purchasing an additional 485 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Kforce during the 4th quarter worth about $145,000. Institutional investors and hedge funds own 92.77% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on KFRC shares. Wall Street Zen lowered Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd. Truist Financial cut their target price on Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group decreased their price target on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th.
Check Out Our Latest Stock Analysis on Kforce
Insider Transactions at Kforce
In other Kforce news, Director David L. Dunkel bought 1,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the purchase, the director now directly owns 517,329 shares of the company's stock, valued at approximately $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.
Kforce Stock Up 0.8%
KFRC stock traded up $0.31 during mid-day trading on Thursday, reaching $40.92. 98,246 shares of the company traded hands, compared to its average volume of 130,062. 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 50 day moving average price is $43.39 and its 200 day moving average price is $51.06. The stock has a market cap of $762.25 million, a price-to-earnings ratio of 15.27 and a beta of 0.74. Kforce Inc. has a fifty-two week low of $35.50 and a fifty-two week high of $71.48.
Kforce (NASDAQ:KFRC - Get Free Report) last announced its 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). The company had revenue of $330.03 million for the quarter, compared to analysts' expectations of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. As a group, equities research analysts predict that Kforce Inc. will post 2.7 EPS for the current fiscal year.
Kforce Announces Dividend
The company 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 annualized dividend and a dividend yield of 3.81%. Kforce's payout ratio is 61.18%.
About Kforce
(
Free Report)
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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