Kforce Inc. (NASDAQ:KFRC) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its stake in Kforce Inc. (NASDAQ:KFRC - Free Report) by 42.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,004 shares of the business services provider's stock after selling 58,526 shares during the quarter. Phocas Financial Corp. owned 0.39% of Kforce worth $5,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can grew its stake in shares of Kforce by 0.7% in the 1st quarter. Bank of Montreal Can now owns 25,409 shares of the business services provider's stock valued at $1,917,000 after purchasing an additional 184 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Kforce by 1.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,376 shares of the business services provider's stock valued at $973,000 after purchasing an additional 202 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Kforce by 22.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider's stock valued at $72,000 after purchasing an additional 224 shares during the last quarter. Resurgent Financial Advisors LLC grew its stake in shares of Kforce by 6.1% in the 4th quarter. Resurgent Financial Advisors LLC now owns 4,144 shares of the business services provider's stock valued at $227,000 after purchasing an additional 240 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Kforce by 3.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,822 shares of the business services provider's stock valued at $467,000 after purchasing an additional 255 shares during the last quarter. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Kforce Price Performance

Shares of NASDAQ KFRC traded down $0.74 during trading on Friday, reaching $64.86. The company had a trading volume of 65,645 shares, compared to its average volume of 87,350. Kforce Inc. has a twelve month low of $50.89 and a twelve month high of $74.79. The stock has a market capitalization of $1.27 billion, a PE ratio of 20.72 and a beta of 0.85. The stock has a 50-day moving average price of $68.99 and a two-hundred day moving average price of $66.14. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share 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 company had revenue of $363.45 million during the quarter, compared to analysts' expectations of $363.29 million. During the same period in the previous year, the firm posted $0.93 earnings per share. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Kforce Inc. will post 3.02 earnings per share for the current year.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.38 dividend. This is a positive change from Kforce's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, March 14th. Kforce's dividend payout ratio is presently 48.56%.

Kforce 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.