Kforce Inc. (KFRC) Sees Unusually-High Trading Volume
Kforce Inc. (NASDAQ:KFRC) shares saw unusually-high trading volume on Thursday . Approximately 506,959 shares changed 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 report on Wednesday, July 6th.
The stock has a market capitalization of $466.82 million and a P/E ratio of 12.12. The company’s 50 day moving average is $17.99 and its 200-day moving average is $18.64.
Kforce (NASDAQ:KFRC) last posted its earnings results on Tuesday, May 3rd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by $0.01. The firm earned $322.20 million during the quarter, compared to the consensus estimate of $324.50 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Kforce Inc. will post $1.63 earnings per share for the current fiscal year.
In other news, COO Kye L. Mitchell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief operating officer now owns 110,613 shares of the company’s stock, valued at $2,166,908.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jeffrey T. Neal sold 5,666 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $19.29, for a total value of $109,297.14. Following the completion of the transaction, the chief marketing officer now directly owns 117,013 shares in the company, valued at approximately $2,257,180.77. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of KFRC. Foresters Investment Management Company Inc. increased its position in Kforce by 15.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 340,500 shares of the company’s stock valued at $8,608,000 after buying an additional 45,000 shares during the last quarter. Matarin Capital Management LLC bought a new stake in shares of Kforce during the fourth quarter valued at about $4,369,000. RidgeWorth Capital Management LLC bought a new stake in shares of Kforce during the fourth quarter valued at about $3,576,000. Pear Tree Advisors Inc. bought a new stake in shares of Kforce during the fourth quarter valued at about $3,026,000. Finally, 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 period.
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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