Kforce (NASDAQ:KFRC) Cut to Hold at StockNews.com

StockNews.com lowered shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities research analysts have also recently weighed in on KFRC. Truist Financial lowered their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, October 15th.

Kforce Price Performance

Shares of KFRC stock opened at $58.32 on Friday. The stock has a 50 day moving average price of $58.59 and a 200 day moving average price of $61.79. The firm has a market capitalization of $1.11 billion, a P/E ratio of 20.11 and a beta of 0.88. 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 has a 52-week low of $52.96 and a 52-week high of $74.79.

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

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.38 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 2.61%. Kforce’s dividend payout ratio (DPR) is 52.41%.

Hedge Funds Weigh In On Kforce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of Kforce by 10.9% during the first quarter. Russell Investments Group Ltd. now owns 10,831 shares of the business services provider’s stock valued at $764,000 after buying an additional 1,067 shares during the last quarter. ProShare Advisors LLC lifted 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 period. O Shaughnessy Asset Management LLC increased its holdings in Kforce by 67.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,863 shares of the business services provider’s stock worth $907,000 after buying an additional 5,167 shares during the period. BOKF NA purchased a new position in Kforce during the 1st quarter worth approximately $359,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Kforce by 14.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,287 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 1,146 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

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.