Wells Fargo & Company MN Trims Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Wells Fargo & Company MN cut its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,038 shares of the business services provider's stock after selling 39,056 shares during the quarter. Wells Fargo & Company MN owned approximately 1.31% of Kforce worth $14,120,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Pitcairn Co. increased its position in Kforce by 17.2% during the fourth quarter. Pitcairn Co. now owns 9,554 shares of the business services provider's stock worth $542,000 after purchasing an additional 1,405 shares during the last quarter. Trexquant Investment LP raised its position in shares of Kforce by 271.1% in the 4th quarter. Trexquant Investment LP now owns 78,283 shares of the business services provider's stock worth $4,439,000 after buying an additional 57,187 shares during the period. Geode Capital Management LLC boosted its holdings in Kforce by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 482,199 shares of the business services provider's stock valued at $27,346,000 after acquiring an additional 1,720 shares during the last quarter. Summit Financial LLC purchased a new stake in Kforce during the fourth quarter valued at about $284,000. Finally, Wellington Management Group LLP increased its stake 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 worth $16,846,000 after acquiring an additional 79,100 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced 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.

Kforce Stock Down 1.3 %

NASDAQ KFRC traded down $0.58 during trading hours on Friday, hitting $44.15. The company had a trading volume of 138,450 shares, compared to its average volume of 120,327. The firm's 50 day moving average is $48.45 and its 200 day moving average is $54.14. The company has a market capitalization of $843.81 million, a price-to-earnings ratio of 16.48 and a beta of 0.76. Kforce Inc. has a fifty-two week low of $42.11 and a fifty-two week 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.39 per share. This is an increase from Kforce's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, March 7th. Kforce's dividend payout ratio (DPR) is presently 58.21%.

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.