Meeder Asset Management Inc. Acquires 736 Shares of Kforce Inc. (NASDAQ:KFRC)

Meeder Asset Management Inc. increased its holdings in shares of Kforce Inc. (NASDAQ:KFRC) by 336.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 955 shares of the business services provider’s stock after purchasing an additional 736 shares during the period. Meeder Asset Management Inc.’s holdings in Kforce were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KFRC. Bank of New York Mellon Corp increased its holdings in shares of Kforce by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,463 shares of the business services provider’s stock worth $7,307,000 after purchasing an additional 492 shares during the period. Envestnet Asset Management Inc. grew its position in Kforce by 5.4% during the first quarter. Envestnet Asset Management Inc. now owns 175,433 shares of the business services provider’s stock worth $8,577,000 after buying an additional 8,995 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Kforce by 10.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,019 shares of the business services provider’s stock valued at $687,000 after acquiring an additional 1,362 shares during the period. Janney Montgomery Scott LLC raised its holdings in Kforce by 3.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,834 shares of the business services provider’s stock valued at $1,752,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Kforce by 5.6% in the 4th quarter. Northern Trust Corp now owns 258,765 shares of the business services provider’s stock worth $14,672,000 after acquiring an additional 13,811 shares during the period. Institutional investors own 92.77% of the company’s stock.

Wall Street Analysts Forecast Growth

KFRC has been the topic of a number of research reports. UBS Group lowered their price objective on Kforce from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial decreased their price target on shares of Kforce from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen cut shares of Kforce from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd.

Kforce Stock Down 4.7%

NASDAQ KFRC opened at $34.77 on Friday. Kforce Inc. has a 1-year low of $34.53 and a 1-year high of $71.48. The company has a market capitalization of $647.77 million, a price-to-earnings ratio of 12.97 and a beta of 0.75. The stock’s 50 day moving average is $41.75 and its two-hundred day moving average is $45.83. 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 (NASDAQ:KFRC) last posted its earnings results on Monday, July 28th. The business services provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Kforce had a return on equity of 30.34% and a net margin of 3.59%. The company had revenue of $334.32 million for the quarter, compared to the consensus estimate of $333.78 million. During the same quarter last year, the business earned $0.75 EPS. Kforce’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current fiscal year.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, September 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.5%. Kforce’s dividend payout ratio (DPR) is 65.27%.

Insider Activity

In other news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the transaction, the director directly owned 517,329 shares in the company, valued at approximately $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

About Kforce

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.