Kforce Inc. (NASDAQ:KFRC) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 480,000 shares, a growth of 25.2% from the April 30th total of 383,400 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 108,000 shares, the days-to-cover ratio is presently 4.4 days.
Kforce stock traded up $0.26 during trading on Thursday, reaching $36.74. The company had a trading volume of 1,216 shares, compared to its average volume of 118,975. Kforce has a 52 week low of $27.95 and a 52 week high of $43.51. The stock has a market cap of $924.29 million, a P/E ratio of 15.96 and a beta of 1.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.43 and a current ratio of 2.43.
Kforce (NASDAQ:KFRC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). Kforce had a return on equity of 35.26% and a net margin of 5.41%. The company had revenue of $326.70 million during the quarter, compared to the consensus estimate of $329.80 million. During the same period in the prior year, the business posted $0.37 earnings per share. Kforce’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Kforce will post 2.4 EPS for the current year.
In other news, Director N John Simmons sold 1,500 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $35.00, for a total transaction of $52,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gordon Tunstall sold 3,000 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.98, for a total value of $104,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,500 shares of company stock worth $1,051,990 over the last three months. Insiders own 11.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in KFRC. Marshall Wace LLP bought a new stake in Kforce in the first quarter worth about $837,000. Hancock Whitney Corp lifted its stake in Kforce by 6.4% in the first quarter. Hancock Whitney Corp now owns 263,038 shares of the business services provider’s stock worth $9,238,000 after purchasing an additional 15,884 shares during the last quarter. Qtron Investments LLC bought a new stake in Kforce in the first quarter worth about $215,000. O Shaughnessy Asset Management LLC lifted its stake in Kforce by 25.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 122,363 shares of the business services provider’s stock worth $4,280,000 after purchasing an additional 24,949 shares during the last quarter. Finally, Globeflex Capital L P lifted its stake in Kforce by 3.8% in the first quarter. Globeflex Capital L P now owns 121,377 shares of the business services provider’s stock worth $4,263,000 after purchasing an additional 4,418 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on KFRC shares. BidaskClub raised Kforce from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. Zacks Investment Research cut Kforce from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, ValuEngine cut Kforce from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.00.
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.
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