Kforce (NASDAQ:KFRC) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts have also issued research reports about the stock. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, October 15th. Truist Financial dropped their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Kforce Price Performance

NASDAQ:KFRC opened at $55.85 on Thursday. The business’s 50-day simple moving average is $59.92 and its two-hundred day simple moving average is $62.22. Kforce has a 52 week low of $52.96 and a 52 week high of $74.79. The stock has a market cap of $1.07 billion, a PE ratio of 19.26 and a beta of 0.88. The company has a quick ratio of 2.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

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

Kforce Announces Dividend

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 paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is 52.41%.

Hedge Funds Weigh In On Kforce

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Kforce by 357.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,932 shares of the business services provider’s stock worth $700,000 after acquiring an additional 7,760 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kforce by 34.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,327 shares of the business services provider’s stock worth $1,013,000 after purchasing an additional 3,918 shares during the period. BNP Paribas Financial Markets raised its holdings in Kforce by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 17,077 shares of the business services provider’s stock valued at $1,204,000 after buying an additional 1,675 shares during the period. Janney Montgomery Scott LLC lifted its position in Kforce by 4.3% in the first quarter. Janney Montgomery Scott LLC now owns 32,240 shares of the business services provider’s stock worth $2,274,000 after buying an additional 1,331 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in Kforce during the first quarter worth $564,000. 92.77% of the stock is owned by hedge funds and other institutional investors.

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.