Northern Trust Corp Raises Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Northern Trust Corp grew its position in shares of Kforce Inc. (NASDAQ:KFRC - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 258,765 shares of the business services provider's stock after buying an additional 13,811 shares during the period. Northern Trust Corp owned about 1.36% of Kforce worth $14,672,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in shares of Kforce by 171.9% during the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider's stock valued at $2,591,000 after purchasing an additional 26,657 shares during the period. Heritage Family Offices LLP bought a new position in Kforce during the fourth quarter valued at about $258,000. Annex Advisory Services LLC increased its stake in shares of Kforce by 59.2% in the fourth quarter. Annex Advisory Services LLC now owns 19,436 shares of the business services provider's stock worth $1,102,000 after purchasing an additional 7,225 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Kforce by 2.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 34,523 shares of the business services provider's stock worth $1,957,000 after purchasing an additional 708 shares during the period. Finally, Inspire Investing LLC increased its stake in Kforce by 5.9% during the fourth quarter. Inspire Investing LLC now owns 7,067 shares of the business services provider's stock valued at $401,000 after acquiring an additional 394 shares during the period. Institutional investors own 92.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KFRC shares. UBS Group decreased their price objective on Kforce from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Truist Financial dropped their target price 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. Finally, StockNews.com cut shares of Kforce from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd.

Kforce Price Performance

KFRC opened at $41.96 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 12 month low of $35.50 and a 12 month high of $71.48. The company has a fifty day simple moving average of $44.99 and a 200 day simple moving average of $52.17. The stock has a market cap of $781.71 million, a P/E ratio of 15.66 and a beta of 0.74.

Kforce (NASDAQ:KFRC - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $334.61 million. During the same quarter in the prior year, the company earned $0.58 EPS. Kforce's quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts expect that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, June 13th. Kforce's dividend payout ratio is currently 61.18%.

Insider Activity at Kforce

In related news, Director David L. Dunkel bought 1,000 shares of Kforce stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the purchase, the director now owns 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

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.

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