Invictus RG Decreases Stake in Kforce Inc. (KFRC)

Invictus RG lowered its position in shares of Kforce Inc. (NASDAQ:KFRC) by 23.9% in the third quarter, HoldingsChannel.com reports. The firm owned 6,294 shares of the business services provider’s stock after selling 1,975 shares during the period. Invictus RG’s holdings in Kforce were worth $237,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Kforce by 15.9% during the 2nd 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 period. Stone Ridge Asset Management LLC boosted its holdings in Kforce by 6.5% in 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 during the period. State Board of Administration of Florida Retirement System boosted its holdings in Kforce by 7.9% in 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 during the period. JPMorgan Chase & Co. boosted its holdings in Kforce by 8.3% in 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 during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Kforce by 19.1% in 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 during the period. Institutional investors and hedge funds own 82.33% of the company’s stock.

In other Kforce news, Director Gordon Tunstall sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $30.40, for a total value of $182,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ralph Struzziero sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $39.55, for a total value of $118,650.00. Following the completion of the transaction, the director now directly owns 41,535 shares in the company, valued at $1,642,709.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,438 shares of company stock worth $1,217,692. 13.30% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. Credit Suisse Group assumed coverage on Kforce in a report on Friday, August 10th. They issued a “neutral” rating and a $38.00 price target for the company. BidaskClub cut Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, ValuEngine cut Kforce from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Kforce currently has an average rating of “Hold” and an average price target of $41.40.

Shares of KFRC opened at $29.50 on Friday. Kforce Inc. has a 52-week low of $23.80 and a 52-week high of $43.51. The company has a market capitalization of $785.87 million, a price-to-earnings ratio of 14.29 and a beta of 1.74. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49.

Kforce (NASDAQ:KFRC) last announced its earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). Kforce had a net margin of 3.40% and a return on equity of 36.45%. The business had revenue of $355.45 million during the quarter, compared to analyst estimates of $356.89 million. During the same period in the previous year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Kforce Inc. will post 2.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, December 6th. Kforce’s payout ratio is 45.86%.

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Kforce Company Profile

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.

Further Reading: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding KFRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kforce Inc. (NASDAQ:KFRC).

Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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