Kforce Inc. (KFRC) Sees Large Volume Increase
Shares of Kforce Inc. (NASDAQ:KFRC) saw unusually-high trading volume on Thursday . Approximately 506,959 shares traded hands during trading, an increase of 233% from the previous session’s volume of 152,121 shares.The stock last traded at $18.07 and had previously closed at $19.46.
Separately, Zacks Investment Research raised Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th.
The firm has a market capitalization of $472.31 million and a price-to-earnings ratio of 12.27. The company has a 50 day moving average of $18.03 and a 200 day moving average of $18.67.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.01. During the same period in the previous year, the business earned $0.20 EPS. The company had revenue of $322.20 million for the quarter, compared to analysts’ expectations of $324.50 million. Kforce’s revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that Kforce Inc. will post $1.63 EPS for the current year.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the sale, the chief operating officer now owns 110,613 shares in the company, valued at approximately $2,166,908.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Jeffrey T. Neal sold 5,666 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $19.29, for a total transaction of $109,297.14. Following the sale, the chief marketing officer now owns 117,013 shares of the company’s stock, valued at approximately $2,257,180.77. The disclosure for this sale can be found here.
Other hedge funds have modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Kforce by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 45,742 shares of the company’s stock valued at $1,156,000 after buying an additional 900 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Kforce by 6.6% in the fourth quarter. New York State Common Retirement Fund now owns 66,565 shares of the company’s stock valued at $1,683,000 after buying an additional 4,115 shares during the last quarter. RidgeWorth Capital Management LLC acquired a new stake in shares of Kforce during the fourth quarter valued at approximately $3,576,000. Redwood Investments LLC boosted its stake in shares of Kforce by 21.9% in the fourth quarter. Redwood Investments LLC now owns 100,723 shares of the company’s stock valued at $2,546,000 after buying an additional 18,072 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new stake in shares of Kforce during the fourth quarter valued at approximately $4,369,000.
Kforce Inc is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), which provides both temporary staffing and permanent placement services to its clients, focusing primarily on areas of information technology, such as systems/applications, e-commerce, technology infrastructure, network architecture and security; Finance and Accounting (FA), which is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others, and Government Solutions (GS), which is engaged in providing services and solutions to the Federal Government as both a prime contractor and a subcontractor in the fields of information technology, and finance and accounting.
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