Ameriprise Financial Inc. Buys 16,378 Shares of Kforce Inc. (NASDAQ:KFRC)

Ameriprise Financial Inc. raised its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 27.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 75,245 shares of the business services provider’s stock after purchasing an additional 16,378 shares during the quarter. Ameriprise Financial Inc. owned 0.39% of Kforce worth $4,266,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Kforce by 171.9% during the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider’s stock worth $2,591,000 after purchasing an additional 26,657 shares during the period. Northern Trust Corp increased its holdings in shares of Kforce by 5.6% during the 4th quarter. Northern Trust Corp now owns 258,765 shares of the business services provider’s stock worth $14,672,000 after purchasing an additional 13,811 shares during the period. Blue Trust Inc. increased its holdings in shares of Kforce by 17.9% during the 4th quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock worth $111,000 after purchasing an additional 275 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Kforce during the 4th quarter worth about $4,951,000. Finally, Raymond James Financial Inc. bought a new position in shares of Kforce during the 4th quarter worth about $5,146,000. Institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

NASDAQ:KFRC opened at $40.39 on Monday. The stock has a market capitalization of $752.48 million, a P/E ratio of 15.07 and a beta of 0.74. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 1 year low of $35.50 and a 1 year high of $71.48. The firm has a 50 day moving average of $43.91 and a 200-day moving average of $51.34.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, April 28th. The business services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts anticipate that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Kforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, June 13th. Kforce’s payout ratio is currently 61.18%.

Insider Transactions at Kforce

In other Kforce news, Director David L. Dunkel bought 1,000 shares of Kforce stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $37.80 per share, with a total value of $37,800.00. Following the acquisition, the director now directly owns 517,329 shares of the company’s stock, valued at $19,555,036.20. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on KFRC shares. Wall Street Zen lowered shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Finally, Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th.

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.