Kforce (NASDAQ:KFRC) Sets New 12-Month Low After Analyst Downgrade

Key Points

• Kforce's stock reached a new 52-week low at $35.47 after UBS Group downgraded its price target from $45.00 to $40.00, maintaining a neutral rating on the stock.
• The company reported a quarterly EPS of $0.59, slightly below analyst expectations, with revenue decreasing by 6.2% year-over-year.
• Kforce plans to pay a quarterly dividend of $0.39 per share on September 26th, which offers an annualized yield of 4.44%.

Kforce Inc. (NASDAQ:KFRC - Get Free Report)'s share price hit a new 52-week low during trading on Thursday after UBS Group lowered their price target on the stock from $45.00 to $40.00. UBS Group currently has a neutral rating on the stock. Kforce traded as low as $35.47 and last traded at $35.51, with a volume of 115000 shares. The stock had previously closed at $36.50.

Other equities research analysts also recently issued research reports about the company. Truist Financial reduced their price target on Kforce from $50.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday. Wall Street Zen downgraded Kforce from a "buy" rating to a "hold" rating in a report on Friday, May 2nd.

Insider Buying and Selling

In other news, Director David L. Dunkel acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Kforce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Kforce in the fourth quarter valued at $42,000. Signaturefd LLC boosted its position in Kforce by 1,069.1% during the first quarter. Signaturefd LLC now owns 795 shares of the business services provider's stock valued at $39,000 after buying an additional 727 shares during the period. Quarry LP purchased a new stake in shares of Kforce during the first quarter worth about $42,000. Meeder Asset Management Inc. boosted its holdings in shares of Kforce by 336.1% during the first quarter. Meeder Asset Management Inc. now owns 955 shares of the business services provider's stock worth $47,000 after purchasing an additional 736 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Kforce by 147.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock worth $63,000 after purchasing an additional 666 shares during the period. Institutional investors own 92.77% of the company's stock.

Kforce Stock Performance

The company has a 50-day simple moving average of $41.96 and a two-hundred day simple moving average of $46.04. 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 firm has a market capitalization of $654.38 million, a P/E ratio of 13.11 and a beta of 0.75.

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

Kforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, September 12th. Kforce's payout ratio is 65.27%.

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.

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