AQR Capital Management LLC cut its stake in shares of Kforce, Inc. (NASDAQ:KFRC) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,011 shares of the business services provider’s stock after selling 16,136 shares during the period. AQR Capital Management LLC’s holdings in Kforce were worth $5,416,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Kforce by 52.3% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 45,475 shares of the business services provider’s stock valued at $1,080,000 after buying an additional 15,623 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Kforce during the first quarter valued at about $100,000. Russell Investments Group Ltd. raised its position in shares of Kforce by 304.0% in the first quarter. Russell Investments Group Ltd. now owns 19,950 shares of the business services provider’s stock valued at $474,000 after buying an additional 15,012 shares during the last quarter. Dubuque Bank & Trust Co. acquired a new position in shares of Kforce during the first quarter valued at about $226,000. Finally, Independent Portfolio Consultants Inc. raised its position in shares of Kforce by 4.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 37,970 shares of the business services provider’s stock valued at $902,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.
Shares of Kforce, Inc. (KFRC) opened at 19.10 on Monday. Kforce, Inc. has a 12-month low of $15.95 and a 12-month high of $26.95. The company’s 50 day moving average price is $18.65 and its 200 day moving average price is $22.10. The firm has a market cap of $481.95 million, a P/E ratio of 14.18 and a beta of 1.55.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a $0.12 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.51%. Kforce’s dividend payout ratio is presently 35.82%.
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Several brokerages have recently issued reports on KFRC. Zacks Investment Research lowered Kforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub lowered Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, TheStreet lowered Kforce from a “b-” rating to a “c+” rating in a research note on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.50.
In related news, CEO David L. Dunkel sold 2,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $21.00, for a total value of $42,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kye L. Mitchell sold 8,838 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $20.68, for a total value of $182,769.84. The disclosure for this sale can be found here. In the last three months, insiders sold 18,838 shares of company stock worth $371,330. 13.30% of the stock is owned by insiders.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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