Kforce Inc. (KFRC) Stake Reduced by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA cut its position in Kforce Inc. (NASDAQ:KFRC) by 97.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,992 shares of the company’s stock after selling 786,215 shares during the period. Emerald Advisers Inc. PA’s holdings in Kforce were worth $371,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. 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 worth $298,000 after buying an additional 2,335 shares in the last quarter. Bank of Montreal Can bought a new position in Kforce during the second quarter worth about $1,019,000. Old Mutual Global Investors UK Ltd. boosted its position in Kforce by 138.6% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 77,302 shares of the company’s stock worth $1,305,000 after buying an additional 44,904 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Kforce by 13.2% in the first quarter. Panagora Asset Management Inc. now owns 287,624 shares of the company’s stock worth $5,632,000 after buying an additional 33,528 shares in the last quarter. Finally, 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 worth $377,000 after buying an additional 551 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.
Shares of Kforce Inc. (NASDAQ:KFRC) traded up 0.10% on Wednesday, hitting $19.85. 30,460 shares of the company traded hands. The company has a market capitalization of $519.95 million, a PE ratio of 13.49 and a beta of 1.56. Kforce Inc. has a 12 month low of $14.87 and a 12 month high of $28.84. The stock’s 50-day moving average price is $19.49 and its 200-day moving average price is $18.71.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, topping the 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 company earned $335 million during the quarter, compared to analysts’ expectations of $334.91 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s revenue was down .7% on a year-over-year basis. On average, equities analysts predict 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. Shareholders of record on Friday, September 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, September 7th. Kforce’s dividend payout ratio (DPR) is presently 32.88%.
A number of research firms have issued reports on KFRC. Zacks Investment Research raised shares of Kforce from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. Deutsche Bank AG started coverage on shares of Kforce in a report on Wednesday, August 17th. They set a “hold” rating and a $19.00 target price for the company. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $21.00 target price on shares of Kforce in a report on Wednesday, August 3rd.
In other Kforce news, COO Kye L. Mitchell sold 3,732 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joseph J. Liberatore sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $18.19, for a total transaction of $1,364,250.00. The disclosure for this sale can be found here. Company 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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