MQS Management LLC Acquires Shares of 12,048 Kforce Inc. (NASDAQ:KFRC)

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

A number of other large investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its position in shares of Kforce by 7.7% in the first quarter. Alps Advisors Inc. now owns 42,503 shares of the business services provider's stock valued at $2,078,000 after acquiring an additional 3,050 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Kforce by 5.4% in the first quarter. Envestnet Asset Management Inc. now owns 175,433 shares of the business services provider's stock valued at $8,577,000 after acquiring an additional 8,995 shares during the period. Bank of New York Mellon Corp boosted its position 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 acquiring an additional 492 shares during the period. Teacher Retirement System of Texas boosted its position 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 valued at $5,571,000 after acquiring an additional 2,788 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $687,000 after purchasing an additional 1,362 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.

Kforce Price Performance

Kforce stock traded up $0.58 during mid-day trading on Wednesday, hitting $42.07. 147,809 shares of the company traded hands, compared to its average volume of 136,188. The stock has a market cap of $783.73 million, a price-to-earnings ratio of 15.70 and a beta of 0.75. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48. The stock has a fifty day moving average price of $41.45 and a 200-day moving average price of $46.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06.

Kforce (NASDAQ:KFRC - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $330.03 million for the quarter, compared to analysts' expectations of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The company's revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. On average, equities analysts predict that Kforce Inc. will post 2.7 earnings per share for the current fiscal year.

Kforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, June 13th. Kforce's dividend payout ratio (DPR) is presently 61.18%.

Insider Activity at Kforce

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the completion of the purchase, the director owned 517,329 shares of the company's stock, valued at $19,555,036.20. The trade was a 0.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. 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 research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd.

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.