Kayne Anderson Rudnick Investment Management LLC Decreases Holdings in Kforce Inc. (NASDAQ:KFRC)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in Kforce Inc. (NASDAQ:KFRC - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 11.86% of Kforce worth $128,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Kforce in the 4th quarter valued at $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 valued at $63,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. lifted 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 worth $111,000 after acquiring an additional 275 shares during the period. PNC Financial Services Group Inc. increased its holdings 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 valued at $144,000 after buying an additional 485 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Kforce during the fourth quarter valued at about $145,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Trading Down 0.4%

NASDAQ:KFRC traded down $0.16 on Friday, reaching $40.71. The stock had a trading volume of 32,203 shares, compared to its average volume of 129,941. Kforce Inc. has a 12-month low of $35.50 and a 12-month high of $71.48. The company has a market cap of $758.41 million, a price-to-earnings ratio of 15.19 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The firm's fifty day moving average is $43.23 and its two-hundred day moving average is $50.91.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $330.03 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities analysts expect that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Kforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 3.83%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's payout ratio is 61.18%.

Insider Buying and Selling

In other news, Director David L. Dunkel acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director now owns 517,329 shares in the company, valued at $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.