Kforce (NASDAQ:KFRC) had its target price raised by Robert W. Baird from $25.00 to $28.00 in a research note released on Wednesday. The brokerage currently has an outperform rating on the business services provider’s stock.
Other equities analysts also recently issued reports about the company. Northcoast Research reaffirmed a buy rating and issued a $33.00 price target on shares of Kforce in a report on Wednesday. ValuEngine raised Kforce from a hold rating to a buy rating in a report on Friday, February 2nd. Zacks Investment Research downgraded Kforce from a buy rating to a hold rating in a report on Tuesday. BidaskClub cut Kforce from a strong-buy rating to a buy rating in a research note on Tuesday, January 16th. Finally, SunTrust Banks cut Kforce from a buy rating to a hold rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Wednesday, October 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Kforce currently has a consensus rating of Buy and an average target price of $26.57.
Kforce (NASDAQ:KFRC) opened at $24.85 on Wednesday. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $639.18, a P/E ratio of 18.97 and a beta of 1.73. Kforce has a fifty-two week low of $16.75 and a fifty-two week high of $27.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, March 8th. Kforce’s dividend payout ratio is currently 36.64%.
In other Kforce news, President Joseph J. Liberatore sold 21,380 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $27.15, for a total value of $580,467.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ralph Struzziero sold 1,229 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $27.05, for a total value of $33,244.45. Following the completion of the sale, the director now owns 46,035 shares of the company’s stock, valued at approximately $1,245,246.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,437 shares of company stock valued at $1,786,277. 13.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its stake in shares of Kforce by 6.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 234,369 shares of the business services provider’s stock worth $4,594,000 after purchasing an additional 13,533 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Kforce by 13.1% during the second quarter. Wells Fargo & Company MN now owns 57,251 shares of the business services provider’s stock worth $1,122,000 after purchasing an additional 6,632 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Kforce by 207.2% during the second quarter. Nationwide Fund Advisors now owns 43,807 shares of the business services provider’s stock worth $859,000 after purchasing an additional 29,545 shares during the last quarter. Northern Trust Corp raised its stake in shares of Kforce by 0.4% during the second quarter. Northern Trust Corp now owns 623,772 shares of the business services provider’s stock worth $12,226,000 after purchasing an additional 2,227 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Kforce by 1.7% during the second quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock worth $40,517,000 after purchasing an additional 33,998 shares during the last quarter. Institutional investors own 78.70% of the company’s stock.
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Kforce Company Profile
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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