Vanguard Group Inc. Cuts Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Vanguard Group Inc. decreased its holdings in Kforce Inc. (NASDAQ:KFRC - Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,016,987 shares of the business services provider's stock after selling 66,973 shares during the period. Vanguard Group Inc. owned about 10.21% of Kforce worth $120,333,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of KFRC. Bank of Montreal Can grew its position in Kforce by 0.7% in the 1st quarter. Bank of Montreal Can now owns 25,409 shares of the business services provider's stock worth $1,917,000 after purchasing an additional 184 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Kforce by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,376 shares of the business services provider's stock worth $973,000 after acquiring an additional 202 shares during the period. First Horizon Advisors Inc. increased its position in Kforce by 22.8% during the third quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider's stock valued at $72,000 after acquiring an additional 224 shares during the last quarter. Resurgent Financial Advisors LLC lifted its holdings in Kforce by 6.1% in the fourth quarter. Resurgent Financial Advisors LLC now owns 4,144 shares of the business services provider's stock valued at $227,000 after acquiring an additional 240 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Kforce by 3.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,822 shares of the business services provider's stock worth $467,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KFRC. Truist Financial increased their price objective on shares of Kforce from $57.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. Robert W. Baird lifted their price target on shares of Kforce from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered Kforce from a "buy" rating to a "hold" rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.33.

Kforce Price Performance

Shares of KFRC traded up $0.53 during mid-day trading on Thursday, reaching $67.99. The stock had a trading volume of 93,484 shares, compared to its average volume of 113,181. The business has a fifty day moving average of $69.25 and a 200 day moving average of $65.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 21.72 and a beta of 0.85. Kforce Inc. has a 12 month low of $50.89 and a 12 month high of $74.79.

Kforce (NASDAQ:KFRC - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.03. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business had revenue of $363.45 million during the quarter, compared to analyst estimates of $363.29 million. During the same quarter in the prior year, the business posted $0.93 EPS. Kforce's revenue for the quarter was down 13.4% compared to the same quarter last year. Equities analysts predict that Kforce Inc. will post 3.02 EPS for the current year.

Kforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This is a positive change from Kforce's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 14th. Kforce's dividend payout ratio (DPR) is 48.56%.

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.