Allspring Global Investments Holdings LLC Sells 2,597 Shares of Kforce Inc. (NASDAQ:KFRC)

Allspring Global Investments Holdings LLC lessened its position in Kforce Inc. (NASDAQ:KFRC) by 54.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,172 shares of the business services provider’s stock after selling 2,597 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kforce were worth $147,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its position in shares of Kforce by 22.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider’s stock valued at $72,000 after buying an additional 224 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in Kforce during the 3rd quarter worth approximately $213,000. Personal CFO Solutions LLC bought a new stake in Kforce during the 3rd quarter worth approximately $218,000. Kingswood Wealth Advisors LLC acquired a new stake in Kforce during the 4th quarter worth approximately $251,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Kforce in the third quarter valued at approximately $304,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Kforce Price Performance

NASDAQ:KFRC opened at $64.13 on Monday. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $74.79. The company has a market cap of $1.25 billion, a P/E ratio of 20.49 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. The stock’s 50-day simple moving average is $68.19 and its 200 day simple moving average is $66.45.

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, topping the consensus estimate of $0.79 by $0.03. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The firm had revenue of $363.45 million for the quarter, compared to analyst estimates of $363.29 million. During the same quarter in the previous year, the firm earned $0.93 EPS. The business’s quarterly revenue was down 13.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kforce Inc. will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

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

Analyst Upgrades and Downgrades

KFRC has been the topic of several research reports. StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Robert W. Baird boosted their price target on Kforce from $62.00 to $72.00 and gave the company an “outperform” 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. Based on data from MarketBeat, Kforce currently has an average rating of “Hold” and an average price target of $68.33.

Kforce 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.