23,388 Shares in Kforce Inc. (NASDAQ:KFRC) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,388 shares of the business services provider’s stock, valued at approximately $1,326,000. Cubist Systematic Strategies LLC owned 0.12% of Kforce as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. BOKF NA boosted its position in shares of Kforce by 106.6% during the 4th quarter. BOKF NA now owns 9,903 shares of the business services provider’s stock worth $532,000 after purchasing an additional 5,109 shares during the period. Brevan Howard Capital Management LP purchased a new position in shares of Kforce during the 4th quarter worth approximately $436,000. Balyasny Asset Management L.P. boosted its position in shares of Kforce by 68.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 40,813 shares of the business services provider’s stock worth $2,314,000 after purchasing an additional 16,523 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Kforce by 71.3% during the 4th quarter. BNP Paribas Financial Markets now owns 29,222 shares of the business services provider’s stock worth $1,657,000 after purchasing an additional 12,161 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Kforce by 27.8% in the 4th quarter. Ameriprise Financial Inc. now owns 75,245 shares of the business services provider’s stock valued at $4,266,000 after buying an additional 16,378 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insider Activity

In other news, Director David L. Dunkel acquired 1,000 shares of Kforce stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $37.80 per share, for a total transaction of $37,800.00. Following the acquisition, the director now owns 517,329 shares of the company’s stock, valued at $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KFRC has been the subject of several recent research reports. StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. UBS Group decreased their price target on shares of Kforce from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Truist Financial decreased their price target on shares of Kforce from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th.

Kforce Stock Performance

Shares of KFRC stock opened at $41.74 on Wednesday. Kforce Inc. has a 52 week low of $35.50 and a 52 week high of $71.48. The firm has a 50 day moving average of $45.39 and a two-hundred day moving average of $52.34. The stock has a market capitalization of $777.62 million, a PE ratio of 15.57 and a beta of 0.74. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The firm had revenue of $330.03 million during the quarter, compared to analyst estimates of $334.61 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. Kforce’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, 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 issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.74%. 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.