Y Intercept Hong Kong Ltd Makes New Investment in Kforce Inc. (NASDAQ:KFRC)

Y Intercept Hong Kong Ltd acquired a new stake in Kforce Inc. (NASDAQ:KFRC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,218 shares of the business services provider’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently made changes to their positions in the stock. MetLife Investment Management LLC boosted its holdings in shares of Kforce by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 11,189 shares of the business services provider’s stock worth $634,000 after purchasing an additional 312 shares during the period. Bank of New York Mellon Corp raised its position in Kforce by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,463 shares of the business services provider’s stock valued at $7,307,000 after purchasing an additional 492 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Kforce by 147.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 666 shares during the period. Signaturefd LLC grew its position in shares of Kforce by 1,069.1% in the 1st quarter. Signaturefd LLC now owns 795 shares of the business services provider’s stock worth $39,000 after buying an additional 727 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kforce in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Insider Activity

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director directly owned 517,329 shares in the company, valued at approximately $19,555,036.20. The trade was a 0.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KFRC. Truist Financial decreased their target price on Kforce from $50.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday. UBS Group decreased their price objective on shares of Kforce from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Wall Street Zen lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd.

Kforce Stock Down 4.9%

Shares of NASDAQ:KFRC opened at $36.45 on Thursday. Kforce Inc. has a 52-week low of $35.50 and a 52-week high of $71.48. The firm has a market capitalization of $679.03 million, a P/E ratio of 13.60 and a beta of 0.75. The stock has a 50 day moving average price of $41.96 and a 200-day moving average price of $46.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06.

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

Kforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.39 dividend. 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’s dividend payout ratio is presently 65.27%.

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.