Pacer Advisors Inc. Purchases Shares of 114,211 Kforce Inc. (NASDAQ:KFRC)

Key Points

• Pacer Advisors Inc. invested $5.58 million in Kforce Inc. by purchasing 114,211 shares, representing a 0.61% ownership stake as of the latest SEC filing.
• Various institutional investors have also increased their stakes in Kforce, with holdings now totaling 92.77% of the company’s stock.
• Kforce's recent quarterly earnings fell short of analysts' expectations, reporting $0.45 EPS and a revenue drop of 6.2% year-over-year, alongside announcing a quarterly dividend of $0.39.

Pacer Advisors Inc. acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 114,211 shares of the business services provider's stock, valued at approximately $5,584,000. Pacer Advisors Inc. owned about 0.61% of Kforce at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KFRC. Marshall Wace LLP acquired a new stake in shares of Kforce in the fourth quarter valued at approximately $6,683,000. Raymond James Financial Inc. acquired a new stake in Kforce during the fourth quarter worth approximately $5,146,000. Wellington Management Group LLP raised its holdings in Kforce by 36.3% in the 4th quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider's stock valued at $16,846,000 after acquiring an additional 79,100 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Kforce by 670.8% in the 4th quarter. Voloridge Investment Management LLC now owns 69,713 shares of the business services provider's stock worth $3,953,000 after buying an additional 60,669 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in Kforce by 271.1% in the fourth quarter. Trexquant Investment LP now owns 78,283 shares of the business services provider's stock valued at $4,439,000 after purchasing an additional 57,187 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Kforce Price Performance

Shares of KFRC stock traded down $0.92 during midday trading on Thursday, reaching $35.59. 92,673 shares of the company were exchanged, compared to its average volume of 154,941. 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 $662.95 million, a P/E ratio of 13.28 and a beta of 0.75. The company's 50 day moving average price is $41.96 and its two-hundred day moving average price is $46.04. 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 issued its earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Kforce had a return on equity of 30.34% and a net margin of 3.59%. The company had revenue of $334.32 million during the quarter, compared to analyst estimates of $333.78 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business's revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, September 12th. Kforce's dividend payout ratio (DPR) is presently 65.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KFRC. Truist Financial decreased their target price on Kforce from $50.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday. UBS Group decreased their target price on Kforce from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Wall Street Zen cut shares of Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

Insider Buying and Selling at Kforce

In other Kforce news, Director David L. Dunkel bought 1,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $37.80 per share, with a total value of $37,800.00. Following the completion of the transaction, the director directly owned 517,329 shares of the company's stock, valued at approximately $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 can be accessed through this link. 4.40% of the stock is owned by company insiders.

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.