California State Teachers Retirement System Has $975,000 Stock Position in Kforce Inc. (NASDAQ:KFRC)

California State Teachers Retirement System cut its holdings in Kforce Inc. (NASDAQ:KFRC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,198 shares of the business services provider’s stock after selling 320 shares during the period. California State Teachers Retirement System owned about 0.09% of Kforce worth $975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KFRC. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Kforce in the fourth quarter valued at approximately $42,000. Tower Research Capital LLC TRC grew its stake in shares of Kforce by 147.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 666 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider’s stock valued at $144,000 after buying an additional 485 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Kforce in the fourth quarter valued at $145,000. Finally, QRG Capital Management Inc. bought a new position in shares of Kforce in the fourth quarter valued at $206,000. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David L. Dunkel acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average price of $37.80 per share, with a total value of $37,800.00. Following the completion of the transaction, the director now directly owns 517,329 shares of the company’s stock, valued at $19,555,036.20. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Kforce Trading Up 0.9%

KFRC stock opened at $41.89 on Wednesday. The company has a fifty day moving average price of $42.00 and a two-hundred day moving average price of $49.87. The stock has a market cap of $780.41 million, a price-to-earnings ratio of 15.63 and a beta of 0.75. Kforce Inc. has a one year low of $35.50 and a one year high of $71.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $330.03 million during the quarter, compared to the consensus estimate of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts anticipate that Kforce Inc. will post 2.7 EPS for the current 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 given a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.72%. Kforce’s payout ratio is presently 61.18%.

Wall Street Analyst Weigh In

KFRC has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. UBS Group decreased their target price on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd.

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.