Kforce Inc. (NASDAQ:KFRC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,433 shares of the business services provider’s stock after buying an additional 8,995 shares during the quarter. Envestnet Asset Management Inc. owned about 0.92% of Kforce worth $8,577,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kforce by 10.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,019 shares of the business services provider’s stock worth $687,000 after buying an additional 1,362 shares during the period. Janney Montgomery Scott LLC raised its position in Kforce by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 35,834 shares of the business services provider’s stock valued at $1,752,000 after purchasing an additional 1,311 shares during the period. Northern Trust Corp grew its stake in shares of Kforce by 5.6% during the fourth quarter. Northern Trust Corp now owns 258,765 shares of the business services provider’s stock valued at $14,672,000 after acquiring an additional 13,811 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Kforce by 21,725.0% during the first quarter. GAMMA Investing LLC now owns 6,111 shares of the business services provider’s stock valued at $299,000 after acquiring an additional 6,083 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Kforce by 71.3% during the fourth quarter. BNP Paribas Financial Markets now owns 29,222 shares of the business services provider’s stock valued at $1,657,000 after acquiring an additional 12,161 shares in the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Kforce from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. UBS Group decreased their target price on Kforce from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial decreased their target price on Kforce from $58.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th.

Kforce Stock Performance

Shares of KFRC stock opened at $42.73 on Tuesday. Kforce Inc. has a 52 week low of $35.50 and a 52 week high of $71.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The company has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $46.52. The company has a market capitalization of $796.08 million, a price-to-earnings ratio of 15.94 and a beta of 0.75.

Kforce (NASDAQ:KFRC) last issued 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 firm had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. Kforce’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, June 13th. Kforce’s dividend payout ratio is currently 61.18%.

Insider Activity at Kforce

In other Kforce news, Director David L. Dunkel acquired 1,000 shares of the stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the acquisition, the director owned 517,329 shares in the company, valued at approximately $19,555,036.20. This represents a 0.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

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.