Rhumbline Advisers grew its holdings in Kforce Inc. (NASDAQ:KFRC - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,349 shares of the business services provider's stock after purchasing an additional 7,256 shares during the quarter. Rhumbline Advisers owned about 0.25% of Kforce worth $2,315,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP bought a new stake in Kforce during the 4th quarter valued at approximately $6,683,000. Raymond James Financial Inc. bought a new stake in shares of Kforce in the fourth quarter valued at approximately $5,146,000. Proficio Capital Partners LLC acquired a new stake in shares of Kforce in the fourth quarter worth $4,951,000. Wellington Management Group LLP increased its position in Kforce by 36.3% during the fourth quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider's stock worth $16,846,000 after acquiring an additional 79,100 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in Kforce by 670.8% during the 4th quarter. Voloridge Investment Management LLC now owns 69,713 shares of the business services provider's stock valued at $3,953,000 after purchasing an additional 60,669 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Kforce
In other news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction on Monday, May 5th. The shares were purchased 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 now directly owns 517,329 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company's stock.
Analysts Set New Price Targets
Several research firms have issued reports on KFRC. Truist Financial decreased their price target on shares of Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. UBS Group decreased their target price on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.
View Our Latest Report on Kforce
Kforce Trading Up 2.4%
Shares of Kforce stock opened at $40.29 on Tuesday. Kforce Inc. has a 52-week low of $35.50 and a 52-week high of $71.48. The firm has a market capitalization of $750.51 million, a PE ratio of 15.03 and a beta of 0.75. 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 company's fifty day moving average price is $41.66 and its two-hundred day moving average price is $49.25.
Kforce (NASDAQ:KFRC - Get Free Report) last posted its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share 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 the consensus estimate of $334.61 million. During the same period in the previous year, the firm earned $0.58 EPS. The business's revenue was down 6.2% compared to the same quarter last year. On average, analysts expect that Kforce Inc. will post 2.7 EPS for the current year.
Kforce Dividend Announcement
The business also recently declared 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 annualized dividend and a yield of 3.87%. The ex-dividend date is Friday, June 13th. Kforce's dividend payout ratio is 61.18%.
About Kforce
(
Free Report)
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.
Further Reading
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