UBS Group Boosts Kforce (NASDAQ:KFRC) Price Target to $45.00

Kforce (NASDAQ:KFRC - Get Free Report) had its price objective increased by research analysts at UBS Group from $40.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. UBS Group's price objective would indicate a potential downside of 2.83% from the stock's current price.

Several other brokerages also recently issued reports on KFRC. Truist Financial cut their price objective on Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen cut Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.

Kforce Trading Up 2.9%

Shares of NASDAQ KFRC traded up $1.29 on Thursday, reaching $46.31. 145,323 shares of the company traded hands, compared to its average volume of 142,441. The company has a 50 day moving average of $41.75 and a 200 day moving average of $46.40. The stock has a market capitalization of $862.76 million, a PE ratio of 17.28 and a beta of 0.75. Kforce has a fifty-two week low of $35.50 and a fifty-two week high of $71.48. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

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

Insider Activity

In other Kforce news, Director David L. Dunkel bought 1,000 shares of the stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director owned 517,329 shares of the company's stock, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Kforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Kforce in the 4th quarter valued at about $42,000. Signaturefd LLC increased its position in shares of Kforce by 1,069.1% during the first quarter. Signaturefd LLC now owns 795 shares of the business services provider's stock worth $39,000 after acquiring an additional 727 shares during the period. Quarry LP purchased a new position in shares of Kforce during the first quarter worth approximately $42,000. Meeder Asset Management Inc. increased its position in shares of Kforce by 336.1% during the first quarter. Meeder Asset Management Inc. now owns 955 shares of the business services provider's stock worth $47,000 after acquiring an additional 736 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Kforce by 147.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider's stock worth $63,000 after acquiring an additional 666 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

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