Kforce (NASDAQ:KFRC) Research Coverage Started at StockNews.com

Posted by Jared Coughlin on Mar 19th, 2023

StockNews.com assumed coverage on shares of Kforce (NASDAQ:KFRC – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the business services provider’s stock.

Separately, William Blair downgraded Kforce from an outperform rating to a market perform rating in a research report on Friday, November 25th.

Kforce Stock Down 1.8 %

Shares of KFRC traded down $1.10 on Thursday, hitting $61.28. The company’s stock had a trading volume of 770,062 shares, compared to its average volume of 210,257. Kforce has a fifty-two week low of $49.35 and a fifty-two week high of $78.15. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $59.27 and its 200-day moving average price is $58.27. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 16.70 and a beta of 0.92.

Kforce (NASDAQ:KFRC – Get Rating) last released its quarterly earnings results on Monday, February 6th. The business services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Kforce had a return on equity of 43.52% and a net margin of 4.41%. The firm had revenue of $419.66 million during the quarter, compared to the consensus estimate of $418.51 million. During the same quarter in the prior year, the firm posted $0.98 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Kforce will post 3.56 EPS for the current year.

Kforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Kforce’s previous quarterly dividend of $0.30. Kforce’s dividend payout ratio is currently 39.24%.

Insider Transactions at Kforce

In other news, CMO Andrew G. Thomas sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $61.83, for a total transaction of $1,236,600.00. Following the sale, the chief marketing officer now owns 91,459 shares in the company, valued at approximately $5,654,909.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Kforce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new stake in Kforce in the 3rd quarter valued at $26,674,000. Goldman Sachs Group Inc. raised its stake in Kforce by 325.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 296,439 shares of the business services provider’s stock valued at $18,183,000 after acquiring an additional 226,722 shares during the period. Millennium Management LLC raised its stake in Kforce by 420.3% in the 2nd quarter. Millennium Management LLC now owns 250,691 shares of the business services provider’s stock valued at $15,377,000 after acquiring an additional 202,506 shares during the period. Norges Bank bought a new stake in Kforce in the 4th quarter valued at $8,959,000. Finally, Allianz Asset Management GmbH raised its stake in Kforce by 122.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 252,270 shares of the business services provider’s stock valued at $14,795,000 after acquiring an additional 138,854 shares during the period. Institutional investors own 88.09% of the company’s stock.

About Kforce

(Get Rating)

Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.