13,414 Shares in Kforce Inc. $KFRC Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,414 shares of the business services provider’s stock, valued at approximately $552,000. Allianz Asset Management GmbH owned about 0.07% of Kforce at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kforce by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,841 shares of the business services provider’s stock worth $530,000 after acquiring an additional 474 shares during the period. PNC Financial Services Group Inc. grew its stake in Kforce by 18.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the business services provider’s stock worth $148,000 after acquiring an additional 480 shares during the period. Bank of New York Mellon Corp grew its stake in Kforce by 0.3% in 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 acquiring an additional 492 shares during the period. Signaturefd LLC grew its stake in Kforce by 1,069.1% in the 1st quarter. Signaturefd LLC now owns 795 shares of the business services provider’s stock worth $39,000 after acquiring an additional 727 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Kforce by 336.1% in the 1st quarter. Meeder Asset Management Inc. now owns 955 shares of the business services provider’s stock worth $47,000 after acquiring an additional 736 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Price Performance

Shares of NASDAQ KFRC opened at $27.76 on Tuesday. Kforce Inc. has a 1-year low of $26.90 and a 1-year high of $62.80. The business has a 50-day moving average of $30.17 and a 200-day moving average of $36.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The company has a market capitalization of $516.33 million, a price-to-earnings ratio of 10.36 and a beta of 0.66.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share 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 during the quarter, compared to analysts’ expectations of $333.78 million. During the same period in the previous year, the company earned $0.75 EPS. Kforce’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts anticipate that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on KFRC. UBS Group lowered their target price on shares of Kforce from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Zacks Research raised shares of Kforce from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Truist Financial lowered their price objective on shares of Kforce from $46.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.50.

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.