Kforce (NASDAQ:KFRC) Trading 4.2% Higher Following Dividend Announcement

Kforce Inc. (NASDAQ:KFRC - Get Free Report) traded up 4.2% during trading on Wednesday following a dividend announcement from the company. 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 yield of 4.03%. The ex-dividend date is Friday, June 13th. Kforce's payout ratio is currently 61.18%.

Analyst Ratings Changes

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

Kforce Trading Up 1.0 %

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 $739.40 million, a P/E ratio of 14.44 and a beta of 0.76. The firm has a 50 day moving average price of $46.84 and a two-hundred day moving average price of $53.10.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The company had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. On average, equities research analysts expect that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Kforce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Kforce by 10.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,307 shares of the business services provider's stock valued at $528,000 after purchasing an additional 889 shares in the last quarter. Barclays PLC raised its position in Kforce by 171.9% during the third quarter. Barclays PLC now owns 42,166 shares of the business services provider's stock valued at $2,591,000 after buying an additional 26,657 shares during the period. Blue Trust Inc. lifted its stake in Kforce by 17.9% in the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider's stock worth $111,000 after acquiring an additional 275 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in Kforce during the 4th quarter worth about $258,000. Finally, Proficio Capital Partners LLC purchased a new position in Kforce during the 4th quarter valued at about $4,951,000. 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.