Hsbc Holdings PLC Acquires 14,448 Shares of Kforce Inc. (NASDAQ:KFRC)

Hsbc Holdings PLC raised its holdings in Kforce Inc. (NASDAQ:KFRC - Free Report) by 202.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,585 shares of the business services provider's stock after purchasing an additional 14,448 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Kforce worth $1,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc boosted its position in Kforce by 3.1% in the fourth 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 in the last quarter. Access Investment Management LLC lifted its stake 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 acquiring an additional 265 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kforce by 17.9% during the 4th 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 in the last quarter. Exchange Traded Concepts LLC grew its position in Kforce by 6.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the business services provider's stock worth $292,000 after acquiring an additional 293 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Kforce by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider's stock worth $634,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 92.77% of the company's stock.

Kforce Stock Performance

Shares of NASDAQ:KFRC traded down $0.22 during trading on Tuesday, hitting $37.39. 218,509 shares of the company were exchanged, compared to its average volume of 126,256. Kforce Inc. has a 52-week low of $35.50 and a 52-week high of $71.48. The stock has a 50 day moving average of $46.60 and a 200 day moving average of $52.95. 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 has a market cap of $696.52 million, a PE ratio of 13.95 and a beta of 0.74.

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 the consensus estimate of $0.48 by ($0.03). Kforce had a return on equity of 30.34% and a net margin of 3.59%. The firm had revenue of $330.03 million for the quarter, compared to the consensus estimate of $334.61 million. During the same period last year, the firm earned $0.58 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Friday, June 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, June 13th. This represents a $1.56 annualized dividend and a dividend yield of 4.17%. Kforce's payout ratio is presently 61.18%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KFRC shares. Truist Financial cut 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. StockNews.com lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday. Finally, UBS Group decreased their target price on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research report 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.