Kforce Inc. (NASDAQ:KFRC) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,349 shares of the business services provider's stock after purchasing an additional 7,256 shares during the period. Rhumbline Advisers owned approximately 0.25% of Kforce worth $2,315,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Atria Investments Inc boosted its position in Kforce by 3.1% in the 4th quarter. Atria Investments Inc now owns 7,058 shares of the business services provider's stock valued at $400,000 after buying an additional 209 shares during the period. Access Investment Management LLC raised its holdings in shares of Kforce by 0.7% in the 4th quarter. Access Investment Management LLC now owns 36,605 shares of the business services provider's stock valued at $2,076,000 after purchasing an additional 265 shares in the last quarter. MetLife Investment Management LLC raised its stake in Kforce by 2.9% in the fourth quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider's stock valued at $634,000 after buying an additional 312 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Kforce by 23.5% during the 4th 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Kforce by 11.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,447 shares of the business services provider's stock valued at $366,000 after acquiring an additional 657 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Kforce Stock Performance

Shares of Kforce stock traded down $0.15 during trading on Friday, reaching $40.11. The company's stock had a trading volume of 110,799 shares, compared to its average volume of 140,552. The company has a 50-day moving average price of $41.32 and a two-hundred day moving average price of $48.98. Kforce Inc. has a fifty-two week low of $35.50 and a fifty-two week high of $71.48. The firm has a market cap of $747.23 million, a PE ratio of 14.95 and a beta of 0.75. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share 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 analyst estimates of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. Kforce's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. On average, analysts forecast that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.89%. Kforce's dividend payout ratio is currently 61.18%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KFRC. Wall Street Zen downgraded Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. UBS Group lowered their target price on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial dropped their target price 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.

Insiders Place Their Bets

In related news, Director David L. Dunkel purchased 1,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the acquisition, the director now directly owns 517,329 shares of the company's stock, valued at $19,555,036.20. This trade represents a 0.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by 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.