UBS Group Has Lowered Expectations for Kforce (NASDAQ:KFRC) Stock Price

Key Points

• UBS Group has reduced Kforce's price target from $45.00 to $40.00, maintaining a "neutral" rating for the stock, which reflects a potential upside of 5.81% from its current trading price.
• Kforce reported quarterly earnings of $0.59 per share, slightly below the consensus estimate of $0.60, alongside a 6.2% decrease in year-over-year revenue.
• Institutional investors hold a significant stake in Kforce, with 92.77% of the company's stock owned by institutional shareholders.

Kforce (NASDAQ:KFRC - Get Free Report) had its price objective lowered by analysts at UBS Group from $45.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. UBS Group's target price indicates a potential upside of 19.35% from the company's previous close.

A number of other analysts have also recently issued reports on KFRC. Wall Street Zen cut Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Truist Financial cut their price objective on shares of Kforce from $50.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday.

Kforce Trading Down 3.8%

KFRC stock traded down $1.34 during midday trading on Wednesday, reaching $33.52. The stock had a trading volume of 46,642 shares, compared to its average volume of 156,573. The firm has a market cap of $624.38 million, a price-to-earnings ratio of 12.51 and a beta of 0.75. Kforce has a twelve month low of $33.28 and a twelve month high of $67.33. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $41.75 and a two-hundred day simple moving average of $45.83.

Kforce (NASDAQ:KFRC - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The business had revenue of $334.32 million for the quarter, compared to the consensus estimate of $333.78 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. As a group, research analysts expect that Kforce will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director owned 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Kforce

A number of hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Kforce during the 4th quarter valued at approximately $42,000. Signaturefd LLC increased its holdings in Kforce by 1,069.1% in the first quarter. Signaturefd LLC now owns 795 shares of the business services provider's stock worth $39,000 after purchasing an additional 727 shares in the last quarter. Quarry LP bought a new stake in shares of Kforce in the 1st quarter valued at $42,000. Meeder Asset Management Inc. increased its stake in shares of Kforce by 336.1% in the 1st quarter. Meeder Asset Management Inc. now owns 955 shares of the business services provider's stock valued at $47,000 after acquiring an additional 736 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Kforce by 147.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock valued at $63,000 after acquiring an additional 666 shares during the period. Institutional investors and hedge funds own 92.77% of the company's stock.

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.