Sovereign s Capital Management LLC Buys New Holdings in Kforce Inc. (NASDAQ:KFRC)

Sovereign s Capital Management LLC acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 0.09% of Kforce at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Kforce during the fourth quarter valued at approximately $6,683,000. Tributary Capital Management LLC boosted its position in Kforce by 38.3% during the fourth quarter. Tributary Capital Management LLC now owns 422,930 shares of the business services provider's stock valued at $23,980,000 after purchasing an additional 117,231 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Kforce during the fourth quarter valued at approximately $5,146,000. Proficio Capital Partners LLC acquired a new position in Kforce during the fourth quarter valued at approximately $4,951,000. Finally, Wellington Management Group LLP boosted 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 valued at $16,846,000 after purchasing an additional 79,100 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kforce news, Director David L. Dunkel acquired 1,000 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director now owns 517,329 shares in the company, valued at approximately $19,555,036.20. The trade was a 0.19% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by corporate insiders.

Kforce Price Performance

Shares of KFRC stock traded up $0.47 during trading hours on Thursday, reaching $41.08. The company's stock had a trading volume of 98,915 shares, compared to its average volume of 129,886. The firm's 50 day simple moving average is $44.12 and its 200-day simple moving average is $51.62. The company has a market capitalization of $765.30 million, a price-to-earnings ratio of 15.33 and a beta of 0.74. Kforce Inc. has a fifty-two week low of $35.50 and a fifty-two week high of $71.48. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings data 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). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million for the quarter, compared to analyst estimates of $334.61 million. During the same period last year, the business earned $0.58 EPS. The company's revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.80%. The ex-dividend date is Friday, June 13th. Kforce's dividend payout ratio is currently 61.18%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KFRC. Wall Street Zen lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Truist Financial dropped their price objective on Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group dropped their price objective on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th.

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.