Shares of Kforce Inc. (NASDAQ:KFRC - Get Free Report) shot up 4.2% on Wednesday after the company announced a dividend. The company traded as high as $39.39 and last traded at $38.13. 25,939 shares changed hands during trading, a decline of 81% from the average session volume of 139,155 shares. The stock had previously closed at $36.59.
The newly announced dividend which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's dividend payout ratio is 61.18%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. UBS Group reduced their price target on Kforce from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. StockNews.com lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Truist Financial cut their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th.
Read Our Latest Stock Report on Kforce
Kforce Price Performance
The company has a market capitalization of $718.38 million, a PE ratio of 14.03 and a beta of 0.76. The stock has a fifty day simple moving average of $46.84 and a 200-day simple moving average of $53.08. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.
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). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. During the same period last year, the company posted $0.58 EPS. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current year.
Institutional Trading of Kforce
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Kforce during the fourth quarter worth approximately $42,000. Signaturefd LLC raised its stake in Kforce by 1,069.1% in the 1st quarter. Signaturefd LLC now owns 795 shares of the business services provider's stock valued at $39,000 after acquiring an additional 727 shares during the period. Tower Research Capital LLC TRC increased its position in 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 acquiring an additional 666 shares during the period. Blue Trust Inc. grew its holdings in shares of Kforce by 17.9% during the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock worth $111,000 after purchasing an additional 275 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Kforce by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider's stock valued at $144,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company's stock.
About Kforce
(
Get Free Report)
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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