Bowling Portfolio Management LLC lessened its holdings in Kforce Inc. (NASDAQ:KFRC) by 19.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,927 shares of the business services provider’s stock after selling 12,229 shares during the period. Bowling Portfolio Management LLC owned approximately 0.20% of Kforce worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Kforce in the 1st quarter valued at $122,000. Meeder Asset Management Inc. raised its holdings in shares of Kforce by 207.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,567 shares of the business services provider’s stock valued at $191,000 after buying an additional 3,759 shares during the period. Zebra Capital Management LLC purchased a new stake in shares of Kforce in the 2nd quarter valued at $217,000. OLD National Bancorp IN purchased a new stake in shares of Kforce in the 2nd quarter valued at $222,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Kforce in the 2nd quarter valued at $226,000. 79.66% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on KFRC. BidaskClub downgraded Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Robert W. Baird restated a “buy” rating and set a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. Zacks Investment Research downgraded Kforce from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Credit Suisse Group began coverage on Kforce in a report on Friday, August 10th. They set a “neutral” rating and a $38.00 price target on the stock. Finally, SunTrust Banks upped their price target on Kforce to $44.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Kforce presently has a consensus rating of “Hold” and a consensus price target of $41.40.
Shares of NASDAQ KFRC opened at $34.55 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.68. Kforce Inc. has a 1-year low of $19.60 and a 1-year high of $43.51. The stock has a market cap of $931.37 million, a price-to-earnings ratio of 22.01 and a beta of 1.64.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Kforce had a return on equity of 34.52% and a net margin of 3.00%. The company had revenue of $358.62 million for the quarter, compared to the consensus estimate of $358.07 million. During the same quarter in the prior year, the business earned $0.44 EPS. Kforce’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Kforce Inc. will post 2.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were issued a dividend of $0.18 per share. This is an increase from Kforce’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.72 annualized dividend and a yield of 2.08%. Kforce’s dividend payout ratio is 45.86%.
Kforce Company Profile
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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