Sovereign s Capital Management LLC Invests $953,000 in Kforce Inc. (NASDAQ:KFRC)

Sovereign s Capital Management LLC acquired a new stake in Kforce Inc. (NASDAQ:KFRC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,806 shares of the business services provider's stock, valued at approximately $953,000. Sovereign s Capital Management LLC owned approximately 0.09% of Kforce at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KFRC. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kforce in the fourth quarter worth approximately $42,000. Tower Research Capital LLC TRC lifted its holdings in Kforce by 147.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock valued at $63,000 after acquiring an additional 666 shares during the period. Blue Trust Inc. lifted its holdings in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after acquiring an additional 275 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock valued at $144,000 after acquiring an additional 485 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Kforce in the fourth quarter valued at about $145,000. 92.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director David L. Dunkel purchased 1,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director now owns 517,329 shares of the company's stock, valued at $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Kforce Price Performance

Shares of Kforce stock traded down $0.68 during trading hours on Friday, reaching $40.39. The company's stock had a trading volume of 100,206 shares, compared to its average volume of 129,986. The stock has a market cap of $752.48 million, a P/E ratio of 15.07 and a beta of 0.74. The firm has a 50 day moving average price of $43.91 and a 200-day moving average price of $51.49. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06.

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

Kforce Announces Dividend

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 given a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.86%. Kforce's dividend payout ratio is presently 61.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial lowered their target price on Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. UBS Group lowered their target price on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen downgraded Kforce from a "buy" rating to a "hold" rating in a 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.