Kforce (NASDAQ:KFRC) Hits New 52-Week Low – Here’s Why

Shares of Kforce Inc. (NASDAQ:KFRC) hit a new 52-week low during trading on Thursday . The company traded as low as $47.22 and last traded at $47.23, with a volume of 46911 shares. The stock had previously closed at $49.86.

Kforce Price Performance

The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $51.01 and its two-hundred day moving average price is $55.69. The stock has a market capitalization of $900.11 million, a PE ratio of 17.57 and a beta of 0.83.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.39 per share. This is an increase from Kforce’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, March 7th. Kforce’s payout ratio is currently 58.21%.

Hedge Funds Weigh In On Kforce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC raised its position in Kforce by 58.0% in the third quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock worth $30,000 after acquiring an additional 182 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Kforce during the fourth quarter valued at $42,000. Tower Research Capital LLC TRC grew its holdings in Kforce by 147.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. increased its position in Kforce by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,810 shares of the business services provider’s stock worth $111,000 after buying an additional 275 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Kforce by 23.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,547 shares of the business services provider’s stock worth $144,000 after buying an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

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.