California Public Employees Retirement System Has $2,154,000 Stake in Kforce Inc. (KFRC)
California Public Employees Retirement System raised its position in Kforce Inc. (NASDAQ:KFRC) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,500 shares of the company’s stock after buying an additional 4,400 shares during the period. California Public Employees Retirement System owned 0.49% of Kforce worth $2,154,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in Kforce during the first quarter worth about $104,000. Strs Ohio boosted its position in Kforce by 15.2% in the second quarter. Strs Ohio now owns 17,700 shares of the company’s stock valued at $298,000 after buying an additional 2,335 shares during the period. Zebra Capital Management LLC boosted its position in Kforce by 15.9% in the first quarter. Zebra Capital Management LLC now owns 16,765 shares of the company’s stock valued at $328,000 after buying an additional 2,304 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Kforce by 2.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,273 shares of the company’s stock valued at $377,000 after buying an additional 551 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in Kforce during the second quarter valued at $450,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Kforce Inc. (NASDAQ:KFRC) traded down 0.63% during mid-day trading on Tuesday, reaching $20.37. 40,451 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $19.19 and a 200-day moving average of $18.63. The firm has a market cap of $533.57 million, a price-to-earnings ratio of 13.84 and a beta of 1.56. Kforce Inc. has a 12 month low of $14.87 and a 12 month high of $28.84.
Kforce (NASDAQ:KFRC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Kforce had a net margin of 3.01% and a return on equity of 31.94%. The firm had revenue of $335 million for the quarter, compared to analyst estimates of $334.91 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was down .7% compared to the same quarter last year. Analysts anticipate that Kforce Inc. will post $1.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.34%. Kforce’s dividend payout ratio is 32.88%.
Several research analysts recently weighed in on KFRC shares. Zacks Investment Research upgraded shares of Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating and issued a $21.00 price objective on shares of Kforce in a research report on Wednesday, August 3rd. Finally, Deutsche Bank AG started coverage on shares of Kforce in a research report on Wednesday, August 17th. They issued a “hold” rating and a $19.00 price objective for the company.
In related news, COO Kye L. Mitchell sold 3,732 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.82, for a total transaction of $73,968.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gordon Tunstall sold 5,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.69, for a total transaction of $93,450.00. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.
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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