SummerHaven Investment Management LLC Acquires 160 Shares of Kforce Inc. (NASDAQ:KFRC)

SummerHaven Investment Management LLC lifted its holdings in Kforce Inc. (NASDAQ:KFRC) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,718 shares of the business services provider’s stock after acquiring an additional 160 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Kforce were worth $792,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KFRC. Exchange Traded Concepts LLC grew its stake in shares of Kforce by 7.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,556 shares of the business services provider’s stock worth $391,000 after buying an additional 430 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Kforce by 4.9% in the third quarter. Harbor Capital Advisors Inc. now owns 13,038 shares of the business services provider’s stock worth $778,000 after acquiring an additional 607 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in shares of Kforce during the third quarter valued at $213,000. Bank of New York Mellon Corp raised its position in shares of Kforce by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 168,688 shares of the business services provider’s stock worth $10,064,000 after purchasing an additional 600 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Kforce by 5.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,674 shares of the business services provider’s stock worth $637,000 after purchasing an additional 567 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors.

Kforce Price Performance

KFRC opened at $64.23 on Tuesday. The company’s 50-day simple moving average is $68.11 and its two-hundred day simple moving average is $66.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. The stock has a market capitalization of $1.25 billion, a P/E ratio of 20.52 and a beta of 0.85. Kforce Inc. has a 52-week low of $50.89 and a 52-week high of $74.79.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The company had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, analysts predict that Kforce Inc. will post 3.02 EPS for the current year.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.38 dividend. This is an increase from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, March 14th. Kforce’s dividend payout ratio (DPR) is 48.56%.

Analyst Ratings Changes

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

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.