Balyasny Asset Management L.P. Raises Position in Kforce Inc. (NASDAQ:KFRC)

Balyasny Asset Management L.P. boosted its stake in Kforce Inc. (NASDAQ:KFRC - Free Report) by 68.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,813 shares of the business services provider's stock after acquiring an additional 16,523 shares during the period. Balyasny Asset Management L.P. owned 0.21% of Kforce worth $2,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atria Investments Inc grew its stake in shares of 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 purchasing an additional 209 shares during the last quarter. Access Investment Management LLC grew its position in 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 buying an additional 265 shares during the last quarter. Blue Trust Inc. increased its stake in Kforce by 17.9% in the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock valued at $111,000 after buying an additional 275 shares during the period. Exchange Traded Concepts LLC raised 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 buying an additional 293 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of 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 acquiring an additional 312 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Price Performance

KFRC stock traded up $0.14 during midday trading on Friday, hitting $42.08. 99,243 shares of the stock were exchanged, compared to its average volume of 129,214. The stock's 50-day moving average price is $44.99 and its 200-day moving average price is $52.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a market cap of $783.93 million, a price-to-earnings ratio of 15.70 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.

Kforce (NASDAQ:KFRC - Get Free Report) last posted 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 analysts' expectations of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The business's revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. Research analysts predict that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 3.71%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's payout ratio is 61.18%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KFRC shares. StockNews.com cut shares of Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Truist Financial dropped their target price on Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Finally, UBS Group reduced their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th.

Insider Transactions at Kforce

In related news, Director David L. Dunkel acquired 1,000 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 517,329 shares in the company, valued at approximately $19,555,036.20. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company's stock.

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.