Mirae Asset Global Investments Co. Ltd. Grows Position in Kforce Inc. (NASDAQ:KFRC)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Kforce Inc. (NASDAQ:KFRC) by 6.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,409 shares of the business services provider’s stock after buying an additional 735 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kforce were worth $771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. raised its position in Kforce by 2.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 609,848 shares of the business services provider’s stock valued at $36,383,000 after buying an additional 14,285 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Kforce by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 608,404 shares of the business services provider’s stock valued at $36,297,000 after buying an additional 3,689 shares during the last quarter. Copeland Capital Management LLC raised its position in Kforce by 121.6% in the 3rd quarter. Copeland Capital Management LLC now owns 532,947 shares of the business services provider’s stock valued at $31,796,000 after buying an additional 292,403 shares during the last quarter. Bank of New York Mellon Corp raised its position in Kforce by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 168,688 shares of the business services provider’s stock valued at $10,064,000 after buying an additional 600 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Kforce by 97.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 122,694 shares of the business services provider’s stock valued at $7,320,000 after purchasing an additional 60,436 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Trading Down 0.2 %

Shares of Kforce stock opened at $64.08 on Thursday. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $74.79. The stock’s 50-day simple moving average is $68.42 and its 200 day simple moving average is $66.36. The stock has a market capitalization of $1.25 billion, a P/E ratio of 20.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37.

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

Kforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is presently 48.56%.

Wall Street Analyst Weigh In

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

Kforce Company Profile

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.