Kforce Inc. (KFRC) To Go Ex-Dividend on September 12th

Kforce Inc. (NASDAQ:KFRC) declared a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.39 per share by the business services provider on Friday, September 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, September 12th.

Kforce has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kforce to earn $3.30 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 46.1%.

Kforce Trading Down 4.9%

KFRC opened at $36.45 on Thursday. Kforce has a one year low of $35.50 and a one year high of $71.48. The company has a market cap of $679.03 million, a P/E ratio of 13.60 and a beta of 0.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The business’s 50-day simple moving average is $41.96 and its 200-day simple moving average is $46.04.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $334.32 million during the quarter, compared to analyst estimates of $333.78 million. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, equities research analysts expect that Kforce will post 2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Kforce from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. UBS Group dropped their price target on Kforce from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Truist Financial dropped their price target on Kforce from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday.

Insider Buying and Selling

In other news, Director David L. Dunkel acquired 1,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was bought at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the transaction, the director owned 517,329 shares in the company, valued at $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Kforce

Several hedge funds have recently modified their holdings of KFRC. AQR Capital Management LLC lifted its holdings in shares of Kforce by 9.7% in the 1st quarter. AQR Capital Management LLC now owns 22,785 shares of the business services provider’s stock valued at $1,114,000 after buying an additional 2,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kforce by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,841 shares of the business services provider’s stock worth $530,000 after purchasing an additional 474 shares in the last quarter. Millennium Management LLC boosted its position in Kforce by 3.5% during the first quarter. Millennium Management LLC now owns 133,829 shares of the business services provider’s stock worth $6,543,000 after purchasing an additional 4,511 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Kforce by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 251,712 shares of the business services provider’s stock worth $12,306,000 after purchasing an additional 99,050 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kforce by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,416 shares of the business services provider’s stock valued at $1,927,000 after acquiring an additional 2,159 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

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.