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Kforce (NASDAQ:KFRC) Lowered to Hold at Zacks Investment Research

Last updated on Saturday, November 21, 2020 | 2020 MarketBeat

Kforce (NASDAQ:KFRC) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, "kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). "

A number of other research firms have also recently weighed in on KFRC. William Blair upgraded shares of Kforce from a "market perform" rating to an "outperform" rating in a research note on Tuesday, August 11th. Credit Suisse Group lifted their target price on shares of Kforce from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Tuesday, November 3rd. Truist Financial lifted their target price on shares of Kforce from $30.00 to $35.00 in a research note on Tuesday, August 11th. Finally, BidaskClub cut shares of Kforce from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of "Hold" and an average price target of $35.00.

Shares of KFRC stock opened at $40.02 on Friday. Kforce has a 1 year low of $20.60 and a 1 year high of $42.50. The firm has a fifty day moving average price of $37.23 and a 200-day moving average price of $32.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.76 and a quick ratio of 2.76. The company has a market cap of $878.68 million, a price-to-earnings ratio of 16.54 and a beta of 1.48.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, November 2nd. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.06. Kforce had a net margin of 3.77% and a return on equity of 33.20%. The firm had revenue of $365.40 million during the quarter, compared to the consensus estimate of $349.84 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that Kforce will post 2.52 EPS for the current year.

In other Kforce news, Director Ralph Struzziero sold 1,987 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $41.73, for a total value of $82,917.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Kforce by 204.8% in the second quarter. FMR LLC now owns 575,117 shares of the business services provider's stock worth $16,822,000 after buying an additional 386,409 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Kforce in the third quarter worth $7,943,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Kforce by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 245,440 shares of the business services provider's stock worth $7,896,000 after buying an additional 10,603 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kforce by 79.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 214,062 shares of the business services provider's stock worth $6,886,000 after buying an additional 94,994 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Kforce in the third quarter worth $5,984,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech) and Finance and Accounting (FA) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, business and artificial intelligence, machine learning, network architecture, security, enterprise data, and project management.

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