Vanguard Group Inc. Trims Position in Kforce Inc. (NASDAQ:KFRC)

Vanguard Group Inc. lessened its holdings in shares of Kforce Inc. (NASDAQ:KFRCFree Report) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,016,987 shares of the business services provider’s stock after selling 66,973 shares during the quarter. Vanguard Group Inc. owned approximately 10.21% of Kforce worth $120,333,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Kforce by 4.2% during the 1st quarter. BlackRock Inc. now owns 2,094,836 shares of the business services provider’s stock worth $132,477,000 after buying an additional 83,525 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Kforce during the first quarter valued at about $126,009,000. Dimensional Fund Advisors LP grew its stake in shares of Kforce by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 819,920 shares of the business services provider’s stock valued at $60,651,000 after acquiring an additional 12,263 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Kforce by 2.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 609,848 shares of the business services provider’s stock valued at $36,383,000 after acquiring an additional 14,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Kforce by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 608,404 shares of the business services provider’s stock valued at $36,297,000 after acquiring an additional 3,689 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

Shares of KFRC stock opened at $67.46 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. Kforce Inc. has a one year low of $50.89 and a one year high of $74.79. The company’s 50-day simple moving average is $69.27 and its 200-day simple moving average is $65.71. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 21.55 and a beta of 0.85.

Kforce (NASDAQ:KFRCGet Free Report) last issued its earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The firm had revenue of $363.45 million for the quarter, compared to analysts’ expectations of $363.29 million. During the same quarter last year, the company posted $0.93 earnings per share. Kforce’s revenue was down 13.4% on a year-over-year basis. Equities analysts anticipate that Kforce Inc. will post 3.02 earnings per share for the current fiscal year.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.25%. This is a boost from Kforce’s previous quarterly dividend of $0.36. Kforce’s dividend payout ratio (DPR) is currently 48.56%.

Analyst Ratings Changes

KFRC has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. StockNews.com downgraded Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Truist Financial increased their price target on shares of Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kforce currently has a consensus rating of “Hold” and an average price target of $68.33.

Check Out Our Latest Analysis on KFRC

About Kforce

(Free Report)

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.

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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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