Kforce (NASDAQ:KFRC) Hits New 12-Month Low - Here's What Happened

Shares of Kforce Inc. (NASDAQ:KFRC - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $42.07 and last traded at $42.41, with a volume of 93479 shares traded. The stock had previously closed at $43.91.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday. Truist Financial lowered their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday, April 15th.

Kforce Price Performance

The stock has a market capitalization of $734.03 million, a PE ratio of 14.33 and a beta of 0.76. The firm's 50 day simple moving average is $47.28 and its 200 day simple moving average is $53.38. 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 (NASDAQ:KFRC - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The firm had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. Kforce's revenue was down 6.2% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. As a group, equities analysts forecast that Kforce Inc. will post 2.7 EPS for the current fiscal 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's payout ratio is presently 61.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of Kforce by 171.9% during the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider's stock worth $2,591,000 after acquiring an additional 26,657 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Kforce by 10.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,307 shares of the business services provider's stock valued at $528,000 after buying an additional 889 shares during the period. Heritage Family Offices LLP bought a new position in Kforce in the fourth quarter worth about $258,000. Annex Advisory Services LLC increased its position in Kforce by 59.2% during the 4th quarter. Annex Advisory Services LLC now owns 19,436 shares of the business services provider's stock valued at $1,102,000 after buying an additional 7,225 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Kforce by 2.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 34,523 shares of the business services provider's stock worth $1,957,000 after buying an additional 708 shares during the period. Institutional investors own 92.77% 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.