Geode Capital Management LLC increased its position in Kforce, Inc. (NASDAQ:KFRC) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,261 shares of the business services provider’s stock after buying an additional 28,482 shares during the period. Geode Capital Management LLC owned 1.07% of Kforce worth $6,394,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in Kforce by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,966 shares of the business services provider’s stock worth $332,000 after buying an additional 208 shares during the period. Wells Fargo & Company MN raised its position in Kforce by 1.1% in the first quarter. Wells Fargo & Company MN now owns 50,619 shares of the business services provider’s stock worth $1,203,000 after buying an additional 571 shares during the period. Parametric Portfolio Associates LLC raised its position in Kforce by 0.8% in the first quarter. Parametric Portfolio Associates LLC now owns 76,375 shares of the business services provider’s stock worth $1,814,000 after buying an additional 637 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Kforce by 4.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,684 shares of the business services provider’s stock worth $432,000 after buying an additional 856 shares during the period. Finally, American International Group Inc. raised its position in Kforce by 7.1% in the first quarter. American International Group Inc. now owns 15,103 shares of the business services provider’s stock worth $359,000 after buying an additional 1,001 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Shares of Kforce, Inc. (NASDAQ:KFRC) opened at 17.70 on Friday. The firm has a 50 day moving average price of $18.74 and a 200-day moving average price of $21.06. Kforce, Inc. has a one year low of $15.95 and a one year high of $26.95. The firm has a market cap of $447.63 million, a P/E ratio of 12.90 and a beta of 1.54.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.02. Kforce had a net margin of 2.64% and a return on equity of 29.67%. The business had revenue of $340.31 million for the quarter, compared to analysts’ expectations of $345.24 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts forecast that Kforce, Inc. will post $1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.48 annualized dividend and a yield of 2.71%. Kforce’s payout ratio is 35.04%.
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A number of equities analysts have commented on the company. Zacks Investment Research lowered Kforce from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub lowered Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. TheStreet lowered Kforce from a “b-” rating to a “c+” rating in a research note on Wednesday, May 31st. Deutsche Bank AG reduced their target price on Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Finally, ValuEngine raised Kforce from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.25.
In other Kforce news, CEO David L. Dunkel sold 8,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $18.32, for a total transaction of $146,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.30% of the company’s stock.
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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