MQS Management LLC Invests $589,000 in Kforce Inc. (NASDAQ:KFRC)

MQS Management LLC acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,048 shares of the business services provider's stock, valued at approximately $589,000. MQS Management LLC owned 0.06% of Kforce as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Atria Investments Inc boosted its holdings in shares of Kforce by 3.1% during the fourth quarter. Atria Investments Inc now owns 7,058 shares of the business services provider's stock worth $400,000 after acquiring an additional 209 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Kforce by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider's stock worth $634,000 after acquiring an additional 312 shares during the period. PNC Financial Services Group Inc. boosted 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 worth $144,000 after acquiring an additional 485 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Kforce by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 149,463 shares of the business services provider's stock worth $7,307,000 after acquiring an additional 492 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Kforce by 11.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,447 shares of the business services provider's stock valued at $366,000 after buying an additional 657 shares during the period. Institutional investors own 92.77% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KFRC. Wall Street Zen cut Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. UBS Group cut their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial cut their price target 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 Price Performance

Shares of KFRC stock traded down $0.56 during trading on Friday, hitting $43.42. The company had a trading volume of 143,225 shares, compared to its average volume of 135,780. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The firm has a market capitalization of $808.93 million, a P/E ratio of 16.20 and a beta of 0.75. The stock's 50-day moving average price is $41.18 and its 200 day moving average price is $47.08. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million for the quarter, compared to analyst estimates of $334.61 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts expect that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Kforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.59%. Kforce's dividend payout ratio is currently 61.18%.

Kforce Company 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.