Kforce Inc. (KFRC) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). “
Other research analysts also recently issued research reports about the stock. Credit Suisse Group AG restated a buy rating and issued a $21.00 price target on shares of Kforce in a research report on Wednesday, August 3rd. Deutsche Bank AG initiated coverage on shares of Kforce in a research report on Wednesday, August 17th. They set a hold rating and a $19.00 target price on the stock.
Shares of Kforce (NASDAQ:KFRC) traded down 0.612% during trading on Wednesday, hitting $20.285. 10,698 shares of the stock were exchanged. Kforce has a 52 week low of $14.87 and a 52 week high of $28.84. The firm has a 50 day moving average price of $19.33 and a 200 day moving average price of $18.66. The firm has a market capitalization of $531.35 million, a P/E ratio of 13.781 and a beta of 1.56.
Kforce (NASDAQ:KFRC) last issued its quarterly 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. The firm had revenue of $335 million for the quarter, compared to the consensus estimate of $334.91 million. Kforce had a net margin of 3.01% and a return on equity of 31.94%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. Analysts forecast that Kforce will post $1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.35%. Kforce’s dividend payout ratio (DPR) is presently 32.88%.
In other Kforce news, Director Gordon Tunstall sold 5,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $18.69, for a total transaction of $93,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kye L. Mitchell sold 3,732 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $19.82, for a total transaction of $73,968.24. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new stake in shares of Kforce during the first quarter worth approximately $104,000. First Mercantile Trust Co. raised its stake in Kforce by 6.8% in the second quarter. First Mercantile Trust Co. now owns 6,760 shares of the company’s stock valued at $114,000 after buying an additional 430 shares during the last quarter. Rational Advisors LLC purchased a new stake in Kforce during the second quarter valued at about $118,000. O Shaughnessy Asset Management LLC raised its stake in Kforce by 620.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,488 shares of the company’s stock valued at $126,000 after buying an additional 6,448 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Kforce by 506.5% in the second quarter. BlackRock Inc. now owns 9,109 shares of the company’s stock valued at $153,000 after buying an additional 7,607 shares during the last quarter. Institutional investors and hedge funds own 80.63% 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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