Bank of New York Mellon Corp lowered its holdings in shares of Kforce Inc. (NASDAQ:KFRC – Free Report) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,088 shares of the business services provider’s stock after selling 3,410 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Kforce worth $10,532,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Kforce by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,341,859 shares of the business services provider’s stock valued at $137,349,000 after purchasing an additional 120,321 shares in the last quarter. BlackRock Inc. raised its holdings in Kforce by 4.2% in the 1st quarter. BlackRock Inc. now owns 2,094,836 shares of the business services provider’s stock worth $132,477,000 after acquiring an additional 83,525 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in Kforce in the 1st quarter worth $126,009,000. Dimensional Fund Advisors LP raised its holdings in Kforce by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,920 shares of the business services provider’s stock worth $60,651,000 after acquiring an additional 12,263 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kforce by 97.6% in the 1st 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 during the period. Institutional investors own 92.85% of the company’s stock.
Analyst Upgrades and Downgrades
KFRC has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of Kforce from $65.00 to $62.00 in a report on Tuesday, August 1st. TheStreet downgraded shares of Kforce from a “b” rating to a “c+” rating in a report on Monday, October 30th. UBS Group dropped their target price on shares of Kforce from $65.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Finally, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st.
In other news, Director Elaine Rosen sold 2,250 shares of Kforce stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $57.53, for a total transaction of $129,442.50. Following the sale, the director now directly owns 13,836 shares in the company, valued at approximately $795,985.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by company insiders.
Kforce Stock Performance
NASDAQ KFRC opened at $65.25 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 24.53 and a beta of 0.82. The company’s fifty day moving average is $59.71 and its two-hundred day moving average is $60.15. Kforce Inc. has a 52-week low of $49.35 and a 52-week high of $66.74.
Kforce (NASDAQ:KFRC – Get Free Report) last posted its quarterly earnings results on Monday, October 30th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $373.12 million for the quarter, compared to analyst estimates of $363.26 million. Kforce had a net margin of 3.30% and a return on equity of 38.65%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. Equities research analysts forecast that Kforce Inc. will post 3.46 EPS for the current year.
Kforce Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.21%. Kforce’s dividend payout ratio (DPR) is currently 54.14%.
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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