Voya Investment Management LLC lowered its stake in Kforce Inc. (NASDAQ:KFRC) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,229 shares of the business services provider’s stock after selling 1,765 shares during the quarter. Voya Investment Management LLC’s holdings in Kforce were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of KFRC. BlackRock Inc. boosted its stake in Kforce by 29.4% in the 2nd quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock worth $71,027,000 after purchasing an additional 471,012 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Kforce in the 2nd quarter worth about $6,867,000. Acadian Asset Management LLC boosted its stake in Kforce by 80.2% in the 2nd quarter. Acadian Asset Management LLC now owns 352,976 shares of the business services provider’s stock worth $12,106,000 after purchasing an additional 157,123 shares during the period. Royce & Associates LP boosted its stake in Kforce by 32.4% in the 2nd quarter. Royce & Associates LP now owns 637,636 shares of the business services provider’s stock worth $21,871,000 after purchasing an additional 156,117 shares during the period. Finally, American Century Companies Inc. bought a new position in Kforce in the 2nd quarter worth about $4,098,000. Institutional investors and hedge funds own 79.66% of the company’s stock.
Several research analysts have commented on KFRC shares. SunTrust Banks raised their target price on Kforce to $44.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Saturday, August 4th. BidaskClub downgraded Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Credit Suisse Group began coverage on Kforce in a research report on Friday, August 10th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Robert W. Baird reiterated a “buy” rating and set a $45.00 price target on shares of Kforce in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Kforce has an average rating of “Hold” and an average price target of $41.40.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $358.62 million during the quarter, compared to the consensus estimate of $358.07 million. Kforce had a return on equity of 34.52% and a net margin of 3.00%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. On average, equities analysts forecast that Kforce Inc. will post 2.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, September 6th. This is an increase from Kforce’s previous quarterly dividend of $0.12. Kforce’s dividend payout ratio (DPR) is 45.86%.
In related news, CEO David L. Dunkel sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $42.50, for a total transaction of $1,062,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard M. Cocchiaro sold 5,373 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $42.51, for a total value of $228,406.23. Following the transaction, the director now directly owns 406,539 shares in the company, valued at $17,281,972.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,955 shares of company stock valued at $3,989,995. Corporate insiders own 13.30% of the company’s stock.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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