Point72 Asia Singapore Pte. Ltd. Buys Shares of 744 Kforce Inc. (NASDAQ:KFRC)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Kforce Inc. (NASDAQ:KFRC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 744 shares of the business services provider’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in shares of Kforce by 171.9% during 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 in the last quarter. Northern Trust Corp grew its holdings in Kforce by 5.6% during the 4th quarter. Northern Trust Corp now owns 258,765 shares of the business services provider’s stock valued at $14,672,000 after buying an additional 13,811 shares during the last quarter. Blue Trust Inc. increased its position in Kforce by 17.9% during the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock worth $111,000 after buying an additional 275 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Kforce during the fourth quarter worth $4,951,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Kforce in the fourth quarter worth $5,146,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insider Buying and Selling

In other news, Director David L. Dunkel bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director now owns 517,329 shares of the company’s stock, valued at $19,555,036.20. This represents a 0.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

Kforce Trading Up 0.3%

Shares of Kforce stock opened at $42.08 on Monday. Kforce Inc. has a fifty-two week low of $35.50 and a fifty-two week high of $71.48. The business’s fifty day moving average is $44.80 and its two-hundred day moving average is $51.98. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a market cap of $783.93 million, a PE ratio of 15.70 and a beta of 0.74.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, April 28th. The business services provider reported $0.45 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 business 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 company posted $0.58 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts anticipate that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business 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 dividend of $0.39 per share. The ex-dividend date is Friday, June 13th. This represents a $1.56 annualized dividend and a dividend yield of 3.71%. Kforce’s payout ratio is currently 61.18%.

Wall Street Analysts Forecast Growth

KFRC has been the topic of a number of analyst reports. UBS Group decreased their price objective on Kforce from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Truist Financial reduced their target price on shares of Kforce from $58.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com downgraded shares of Kforce from a “buy” rating to a “hold” rating in a report on Friday, May 2nd.

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.