Sovereign s Capital Management LLC Makes New Investment in Kforce Inc. (NASDAQ:KFRC)

Sovereign s Capital Management LLC purchased a new position in shares of Kforce Inc. (NASDAQ:KFRC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,806 shares of the business services provider’s stock, valued at approximately $953,000. Sovereign s Capital Management LLC owned about 0.09% of Kforce at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its holdings in Kforce by 171.9% in the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider’s stock worth $2,591,000 after purchasing an additional 26,657 shares during the period. Annex Advisory Services LLC increased its position in Kforce by 59.2% in the fourth quarter. Annex Advisory Services LLC now owns 19,436 shares of the business services provider’s stock worth $1,102,000 after buying an additional 7,225 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Kforce by 2.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 34,523 shares of the business services provider’s stock worth $1,957,000 after buying an additional 708 shares during the period. Inspire Investing LLC lifted its position in shares of Kforce by 5.9% during the 4th quarter. Inspire Investing LLC now owns 7,067 shares of the business services provider’s stock valued at $401,000 after buying an additional 394 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Kforce by 6.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 293 shares during the period. Institutional investors own 92.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial decreased their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. StockNews.com downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, UBS Group dropped their target price on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th.

Insider Transactions at Kforce

In other news, Director David L. Dunkel purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of $37.80 per share, with a total value of $37,800.00. Following the completion of the purchase, the director now owns 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 SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Kforce Stock Up 0.3%

NASDAQ KFRC opened at $42.08 on Monday. Kforce Inc. has a 12 month low of $35.50 and a 12 month high of $71.48. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $783.93 million, a PE ratio of 15.70 and a beta of 0.74. The stock’s 50 day moving average is $44.80 and its 200 day moving average is $51.98.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company had revenue of $330.03 million for the quarter, compared to the consensus estimate of $334.61 million. During the same quarter in the previous year, the business earned $0.58 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts predict that Kforce Inc. will post 2.7 EPS for the current fiscal year.

Kforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.71%. Kforce’s payout ratio is 61.18%.

Kforce Company Profile

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.