Ceredex Value Advisors LLC bought a new position in shares of Kforce (NASDAQ:KFRC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,015,294 shares of the business services provider’s stock, valued at approximately $27,463,000. Ceredex Value Advisors LLC owned about 3.89% of Kforce at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Advisor Group Inc. boosted its holdings in shares of Kforce by 91.2% during the 4th quarter. Advisor Group Inc. now owns 4,660 shares of the business services provider’s stock worth $118,000 after purchasing an additional 2,223 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Kforce by 12.2% during the 4th quarter. First Trust Advisors LP now owns 21,086 shares of the business services provider’s stock worth $532,000 after purchasing an additional 2,294 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Kforce by 3.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 97,379 shares of the business services provider’s stock worth $2,459,000 after purchasing an additional 3,543 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Kforce by 3.0% during the 4th quarter. Teachers Advisors LLC now owns 133,814 shares of the business services provider’s stock worth $3,379,000 after purchasing an additional 3,872 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Kforce by 4.8% during the 4th quarter. Allianz Asset Management GmbH now owns 89,509 shares of the business services provider’s stock worth $2,260,000 after purchasing an additional 4,139 shares during the last quarter. Institutional investors and hedge funds own 77.47% of the company’s stock.
Several brokerages have recently weighed in on KFRC. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Robert W. Baird boosted their target price on Kforce from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Saturday, February 3rd. BidaskClub upgraded Kforce from a “hold” rating to a “buy” rating in a report on Friday, April 20th. Finally, Northcoast Research restated a “buy” rating and set a $33.00 target price on shares of Kforce in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.60.
KFRC stock opened at $32.65 on Friday. The company has a market cap of $848.72 million, a PE ratio of 20.80 and a beta of 1.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.06 and a current ratio of 3.07. Kforce has a one year low of $16.75 and a one year high of $33.55.
Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $346.30 million for the quarter, compared to analyst estimates of $344.19 million. Kforce had a net margin of 2.67% and a return on equity of 31.73%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. analysts forecast that Kforce will post 2.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 7th. Kforce’s payout ratio is presently 30.57%.
In other news, CEO David L. Dunkel sold 10,000 shares of Kforce stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $29.01, for a total transaction of $290,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Joseph J. Liberatore sold 15,959 shares of Kforce stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $31.05, for a total transaction of $495,526.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,387 shares of company stock worth $3,288,615. Corporate insiders own 13.30% of the company’s stock.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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