Kforce (NASDAQ:KFRC) Director Sells 2,500 Shares of Stock

Key Points

• Kforce Director David Dunkel sold 2,500 shares for $145,375 at an average price of $58.15, reducing his stake by 0.49%; he retained 503,829 shares.
• Kforce declared a quarterly dividend of $0.40 per share, equivalent to $1.60 annually and a 2.9% yield.
• Analysts’ consensus rating is Hold, with an average price target of $63; Baird and UBS raised their targets to $66 and $63, respectively.

Kforce Inc. (NASDAQ:KFRC - Get Free Report) Director David Dunkel sold 2,500 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $58.15, for a total transaction of $145,375.00. Following the completion of the sale, the director owned 503,829 shares in the company, valued at approximately $29,297,656.35. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Kforce Stock Performance

NASDAQ:KFRC traded down $2.40 during trading hours on Thursday, reaching $55.89. 206,399 shares of the stock were exchanged, compared to its average volume of 251,166. The firm has a 50 day simple moving average of $53.42 and a 200-day simple moving average of $44.25. Kforce Inc. has a 52 week low of $25.07 and a 52 week high of $61.75. The stock has a market capitalization of $1.00 billion, a P/E ratio of 20.85 and a beta of 0.87. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. Kforce's payout ratio is 66.95%.

Analyst Upgrades and Downgrades

• Kforce NASDAQ: KFRC Stock is a Workforce Recovery Play

Several equities analysts have recently commented on KFRC shares. Robert W. Baird upped their price target on shares of Kforce from $63.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 27th. UBS Group raised their target price on Kforce from $59.00 to $63.00 and gave the company a "neutral" rating in a research note on Tuesday, October 27th. Finally, Truist Financial lifted their price target on shares of Kforce from $38.00 to $60.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Kforce presently has a consensus rating of "Hold" and an average price target of $63.00.

Institutional Investors Weigh In On Kforce

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Kforce in the 2nd quarter valued at $73,001,000. Copeland Capital Management LLC grew its stake in shares of Kforce by 51.5% in the first quarter. Copeland Capital Management LLC now owns 666,331 shares of the business services provider's stock worth $19,484,000 after acquiring an additional 226,520 shares during the last quarter. Sei Investments Co. increased its position in Kforce by 66.7% during the first quarter. Sei Investments Co. now owns 246,709 shares of the business services provider's stock worth $7,214,000 after acquiring an additional 98,736 shares during the period. Bank of New York Mellon Corp bought a new position in Kforce during the second quarter worth $10,359,000. Finally, Renaissance Technologies LLC increased its position in Kforce by 30.8% during the first quarter. Renaissance Technologies LLC now owns 115,649 shares of the business services provider's stock worth $3,382,000 after acquiring an additional 27,205 shares during the period. 92.77% of the stock is currently owned by institutional investors and hedge funds.

About Kforce

Kforce Inc is a professional staffing and business solutions firm that connects organizations with skilled workers and provides services designed to support workforce and project needs. The company primarily operates through its Technology and Finance & Accounting segments.

Kforce Technology provides staffing, consulting, and project-based solutions for areas such as application development, data management, cloud computing, cybersecurity, and other information technology functions.

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