Arizona State Retirement System Sells 158 Shares of Kforce Inc. (NASDAQ:KFRC)

Arizona State Retirement System reduced its holdings in Kforce Inc. (NASDAQ:KFRC) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 5,344 shares of the business services provider’s stock after selling 158 shares during the quarter. Arizona State Retirement System’s holdings in Kforce were worth $361,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ronald Blue Trust Inc. increased its holdings in shares of Kforce by 352.1% in the third quarter. Ronald Blue Trust Inc. now owns 434 shares of the business services provider’s stock worth $27,000 after acquiring an additional 338 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Kforce during the fourth quarter worth about $56,000. Point72 Middle East FZE bought a new position in shares of Kforce during the fourth quarter worth about $59,000. Tower Research Capital LLC TRC grew its holdings in shares of Kforce by 125.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,083 shares of the business services provider’s stock worth $65,000 after buying an additional 602 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Kforce by 83.3% during the second quarter. Quantbot Technologies LP now owns 1,100 shares of the business services provider’s stock worth $67,000 after buying an additional 500 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors.

Kforce Stock Up 1.2 %

KFRC stock opened at $63.56 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $68.55 and a two-hundred day moving average price of $66.24. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 20.31 and a beta of 0.85. Kforce Inc. has a twelve month low of $50.89 and a twelve month high of $74.79.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $363.45 million during the quarter, compared to the consensus estimate of $363.29 million. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Analysts anticipate that Kforce Inc. will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.39%. This is an increase from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 14th. Kforce’s dividend payout ratio (DPR) is currently 48.56%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KFRC shares. Robert W. Baird increased their price objective on Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. StockNews.com downgraded Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Truist Financial increased their price objective on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.33.

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.