New South Capital Management Inc. Sells 24,539 Shares of Kforce Inc. (NASDAQ:KFRC)

New South Capital Management Inc. lessened its position in Kforce Inc. (NASDAQ:KFRC - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 454,573 shares of the business services provider's stock after selling 24,539 shares during the period. New South Capital Management Inc. owned approximately 2.38% of Kforce worth $22,224,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 1,362 shares during the period. Janney Montgomery Scott LLC increased its stake in Kforce by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,834 shares of the business services provider's stock worth $1,752,000 after purchasing an additional 1,311 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in Kforce during the 1st quarter worth about $1,013,000. SG Americas Securities LLC raised its holdings in Kforce by 198.9% during the 1st quarter. SG Americas Securities LLC now owns 8,487 shares of the business services provider's stock worth $415,000 after buying an additional 5,648 shares during the period. Finally, Annex Advisory Services LLC lifted its stake in Kforce by 57.5% during the first quarter. Annex Advisory Services LLC now owns 30,621 shares of the business services provider's stock valued at $1,497,000 after buying an additional 11,185 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Insider Activity at Kforce

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

Kforce Stock Performance

Shares of NASDAQ KFRC traded up $0.20 during trading hours on Friday, reaching $43.75. The stock had a trading volume of 58,429 shares, compared to its average volume of 134,601. The company has a market cap of $815.06 million, a price-to-earnings ratio of 16.32 and a beta of 0.75. Kforce Inc. has a twelve month low of $35.50 and a twelve month high of $71.48. The business's fifty day moving average is $40.73 and its two-hundred day moving average is $47.69. 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 announced its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) 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 business had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. During the same quarter in the prior year, the company posted $0.58 EPS. The company's quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts expect that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $0.39 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.57%. Kforce's payout ratio is presently 61.18%.

Wall Street Analysts Forecast Growth

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

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.