State Street Corp Reduces Holdings in Kforce Inc. (NASDAQ:KFRC)

State Street Corp cut its position in Kforce Inc. (NASDAQ:KFRC) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 438,137 shares of the business services provider’s stock after selling 1,049 shares during the quarter. State Street Corp owned 2.30% of Kforce worth $26,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KFRC. Stifel Financial Corp grew its stake in shares of Kforce by 3.0% during the third quarter. Stifel Financial Corp now owns 73,224 shares of the business services provider’s stock valued at $4,500,000 after acquiring an additional 2,159 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Kforce by 28.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 186,016 shares of the business services provider’s stock valued at $11,431,000 after purchasing an additional 41,180 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Kforce during the 3rd quarter valued at approximately $221,000. Verition Fund Management LLC purchased a new stake in Kforce during the 3rd quarter worth approximately $350,000. Finally, BNP Paribas Financial Markets raised its position in shares of Kforce by 100.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,061 shares of the business services provider’s stock valued at $1,048,000 after purchasing an additional 8,561 shares in the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KFRC has been the topic of a number of recent analyst reports. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. Truist Financial reduced their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th.

Kforce Stock Down 0.2 %

NASDAQ:KFRC opened at $56.21 on Monday. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 19.38 and a beta of 0.88. Kforce Inc. has a 1-year low of $52.96 and a 1-year high of $74.79. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $58.56 and its 200 day moving average price is $61.35.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. On average, sell-side analysts forecast that Kforce Inc. will post 2.68 earnings per share for the current fiscal year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.70%. Kforce’s dividend payout ratio is currently 52.41%.

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.