Prudential Financial Inc. grew its position in Kforce Inc. (NASDAQ:KFRC) by 6.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 281,759 shares of the business services provider’s stock after purchasing an additional 17,659 shares during the period. Prudential Financial Inc.’s holdings in Kforce were worth $10,594,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Kforce by 15.9% in the second quarter. Victory Capital Management Inc. now owns 10,968 shares of the business services provider’s stock worth $376,000 after purchasing an additional 1,504 shares during the last quarter. Stone Ridge Asset Management LLC grew its holdings in Kforce by 6.5% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 38,897 shares of the business services provider’s stock worth $1,463,000 after acquiring an additional 2,358 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Kforce by 7.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 32,685 shares of the business services provider’s stock worth $1,229,000 after acquiring an additional 2,399 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Kforce by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,082 shares of the business services provider’s stock worth $1,282,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Kforce by 19.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 17,144 shares of the business services provider’s stock worth $645,000 after acquiring an additional 2,749 shares in the last quarter. Hedge funds and other institutional investors own 82.33% of the company’s stock.
Several brokerages have issued reports on KFRC. Credit Suisse Group began coverage on shares of Kforce in a report on Friday, August 10th. They set a “neutral” rating and a $38.00 target price on the stock. BidaskClub cut shares of Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, ValuEngine cut shares of Kforce from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.40.
Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Kforce had a net margin of 3.40% and a return on equity of 36.45%. The firm had revenue of $355.45 million during the quarter, compared to the consensus estimate of $356.89 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Kforce Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, December 6th. Kforce’s dividend payout ratio is currently 45.86%.
In related news, Director Ralph Struzziero sold 9,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $38.55, for a total value of $346,950.00. Following the completion of the transaction, the director now directly owns 41,535 shares of the company’s stock, valued at approximately $1,601,174.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Cocchiaro sold 11,912 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $42.55, for a total transaction of $506,855.60. The disclosure for this sale can be found here. Insiders sold a total of 46,972 shares of company stock worth $1,712,546 over the last 90 days. Company insiders own 12.50% of the company’s stock.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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