Kforce Inc. (NASDAQ:KFRC) Short Interest Update

Kforce Inc. (NASDAQ:KFRC) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 1,230,000 shares, a drop of 8.9% from the July 31st total of 1,350,000 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average trading volume of 132,100 shares, the days-to-cover ratio is currently 9.3 days.

Analyst Upgrades and Downgrades

KFRC has been the subject of several research reports. UBS Group started coverage on shares of Kforce in a research note on Wednesday, May 31st. They set a “neutral” rating and a $62.00 price target for the company. Robert W. Baird cut their price objective on Kforce from $65.00 to $62.00 in a report on Tuesday, August 1st. Finally, StockNews.com initiated coverage on Kforce in a report on Thursday, August 17th. They issued a “hold” rating for the company.

Kforce Trading Down 0.7 %

Shares of Kforce stock opened at $62.65 on Friday. The business has a fifty day simple moving average of $61.68 and a two-hundred day simple moving average of $61.13. Kforce has a 1 year low of $49.35 and a 1 year high of $66.74. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 19.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.49 and a quick ratio of 2.49.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). The firm had revenue of $389.10 million for the quarter, compared to the consensus estimate of $395.87 million. Kforce had a return on equity of 39.62% and a net margin of 3.88%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Research analysts forecast that Kforce will post 3.28 EPS for the current year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, September 14th. Kforce’s payout ratio is currently 44.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KFRC. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Kforce during the first quarter worth about $126,009,000. Franklin Resources Inc. raised its stake in Kforce by 3,537.9% during the second quarter. Franklin Resources Inc. now owns 475,180 shares of the business services provider’s stock worth $29,775,000 after acquiring an additional 462,118 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Kforce by 97.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 586,889 shares of the business services provider’s stock worth $37,115,000 after acquiring an additional 289,832 shares in the last quarter. Wells Fargo & Company MN raised its stake in Kforce by 599.7% during the second quarter. Wells Fargo & Company MN now owns 301,833 shares of the business services provider’s stock worth $18,913,000 after acquiring an additional 258,697 shares in the last quarter. Finally, Copeland Capital Management LLC raised its stake in Kforce by 35,909.6% during the second quarter. Copeland Capital Management LLC now owns 240,544 shares of the business services provider’s stock worth $15,072,000 after acquiring an additional 239,876 shares in the last quarter. Institutional investors own 92.85% of the company’s stock.

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.