Public Employees Retirement System of Ohio raised its stake in shares of Kforce, Inc. (NASDAQ:KFRC) by 483.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,096 shares of the business services provider’s stock after acquiring an additional 95,364 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.43% of Kforce worth $2,256,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KFRC. Investment Counselors of Maryland LLC boosted its position in Kforce by 27.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock valued at $19,694,000 after acquiring an additional 218,650 shares in the last quarter. Opus Capital Group LLC boosted its position in Kforce by 1,309.7% during the 2nd quarter. Opus Capital Group LLC now owns 210,493 shares of the business services provider’s stock valued at $4,126,000 after acquiring an additional 195,561 shares in the last quarter. Citadel Advisors LLC bought a new stake in Kforce during the 2nd quarter valued at $3,435,000. Macquarie Group Ltd. boosted its position in Kforce by 16.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,136,060 shares of the business services provider’s stock valued at $22,267,000 after acquiring an additional 164,268 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in shares of Kforce by 28.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 715,659 shares of the business services provider’s stock worth $14,027,000 after purchasing an additional 157,134 shares in the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.
Kforce, Inc. (KFRC) opened at $24.05 on Friday. The stock has a market capitalization of $636.53, a price-to-earnings ratio of 16.25 and a beta of 1.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.95. Kforce, Inc. has a 52 week low of $16.75 and a 52 week high of $26.95.
Kforce (NASDAQ:KFRC) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $341.05 million during the quarter, compared to analyst estimates of $340.67 million. Kforce had a return on equity of 28.83% and a net margin of 2.71%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. analysts forecast that Kforce, Inc. will post 1.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a $0.12 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.00%. Kforce’s dividend payout ratio (DPR) is 33.57%.
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A number of research firms have recently weighed in on KFRC. Robert W. Baird reissued a “buy” rating and issued a $25.00 price objective on shares of Kforce in a research report on Friday, November 3rd. ValuEngine raised Kforce from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research cut Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub cut Kforce from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG lowered their price objective on Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.20.
In other Kforce news, CEO David L. Dunkel sold 17,000 shares of Kforce stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $23.90, for a total transaction of $406,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kye L. Mitchell sold 5,000 shares of Kforce stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The disclosure for this sale can be found here. Insiders sold a total of 43,700 shares of company stock valued at $1,008,295 in the last 90 days. 13.30% of the stock is currently owned by company insiders.
Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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