BidaskClub Upgrades Kforce (NASDAQ:KFRC) to Hold

Kforce (NASDAQ:KFRC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Separately, William Blair restated an “outperform” rating on shares of Kforce in a report on Friday, September 20th.

KFRC opened at $39.76 on Wednesday. The company has a market capitalization of $898.89 million, a PE ratio of 17.29 and a beta of 1.20. The firm has a 50-day simple moving average of $39.62 and a two-hundred day simple moving average of $36.24. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. Kforce has a 52 week low of $27.95 and a 52 week high of $42.64.

Kforce (NASDAQ:KFRC) last issued its earnings results on Wednesday, October 30th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $345.60 million for the quarter, compared to analysts’ expectations of $340.32 million. Kforce had a return on equity of 30.85% and a net margin of 9.71%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that Kforce will post 2.38 earnings per share for the current year.

In other Kforce news, Chairman David M. Kelly sold 19,985 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $439.23, for a total transaction of $8,778,011.55. Also, Director Mark F. Furlong sold 3,363 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $40.00, for a total transaction of $134,520.00. The disclosure for this sale can be found here. Insiders sold 45,524 shares of company stock worth $9,780,650 in the last 90 days. 11.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cutler Group LP lifted its holdings in shares of Kforce by 200.0% in the 2nd quarter. Cutler Group LP now owns 2,400 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 1,600 shares during the last quarter. A.R.T. Advisors LLC increased its stake in Kforce by 9.7% during the second quarter. A.R.T. Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $279,000 after acquiring an additional 700 shares during the last quarter. Zebra Capital Management LLC increased its stake in Kforce by 12.1% during the second quarter. Zebra Capital Management LLC now owns 8,540 shares of the business services provider’s stock worth $300,000 after acquiring an additional 922 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Kforce by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 9,323 shares of the business services provider’s stock worth $327,000 after acquiring an additional 391 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Kforce during the second quarter valued at approximately $423,000. Hedge funds and other institutional investors own 85.17% of the company’s stock.

About Kforce

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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