Phocas Financial Corp. Trims Stock Holdings in Kforce Inc. (NASDAQ:KFRC)

Phocas Financial Corp. reduced its position in shares of Kforce Inc. (NASDAQ:KFRC) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,271 shares of the business services provider’s stock after selling 4,407 shares during the quarter. Phocas Financial Corp.’s holdings in Kforce were worth $4,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KFRC. Blue Trust Inc. boosted its position in Kforce by 59.9% during the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after acquiring an additional 160 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Kforce by 1.5% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock worth $810,000 after purchasing an additional 192 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Kforce by 6.6% during the first quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock worth $239,000 after purchasing an additional 209 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Kforce by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock valued at $752,000 after purchasing an additional 247 shares during the period. Finally, Access Investment Management LLC grew its position in shares of Kforce by 0.8% in the second quarter. Access Investment Management LLC now owns 36,275 shares of the business services provider’s stock valued at $2,254,000 after purchasing an additional 300 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Kforce Price Performance

KFRC stock opened at $58.31 on Tuesday. The stock has a 50-day moving average price of $59.02 and a two-hundred day moving average price of $62.00. The company has a market cap of $1.11 billion, a PE ratio of 20.06 and a beta of 0.88. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce Inc. has a 12-month low of $52.96 and a 12-month high of $74.79.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates of $352.19 million. During the same quarter last year, the firm posted $0.90 earnings per share. Kforce’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts predict that Kforce Inc. will post 2.68 EPS for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.61%. Kforce’s dividend payout ratio (DPR) is 52.41%.

Analyst Upgrades and Downgrades

KFRC has been the topic of several recent analyst reports. Truist Financial reduced their target price on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.67.

About Kforce

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.