Insider Selling: Kforce Inc. (KFRC) Director Sells 5,000 Shares of Stock
Kforce Inc. (NASDAQ:KFRC) Director Gordon Tunstall sold 5,000 shares of Kforce stock in a transaction on Friday, November 25th. The shares were sold at an average price of $21.45, for a total value of $107,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Kforce Inc. (NASDAQ:KFRC) traded up 3.98% during midday trading on Tuesday, reaching $22.20. The company had a trading volume of 227,334 shares. The firm has a 50-day moving average price of $19.00 and a 200-day moving average price of $18.67. Kforce Inc. has a 52 week low of $14.86 and a 52 week high of $27.43. The company has a market capitalization of $571.54 million, a price-to-earnings ratio of 16.74 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.16%. Kforce’s payout ratio is 36.36%.
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Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its position in shares of Kforce by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,069 shares of the company’s stock worth $508,000 after buying an additional 272 shares during the period. Swiss National Bank boosted its position in shares of Kforce by 3.7% in the second quarter. Swiss National Bank now owns 39,500 shares of the company’s stock worth $667,000 after buying an additional 1,400 shares during the period. Systematic Financial Management LP bought a new position in shares of Kforce during the second quarter worth about $1,278,000. Bank of New York Mellon Corp boosted its position in shares of Kforce by 23.8% in the second quarter. Bank of New York Mellon Corp now owns 213,520 shares of the company’s stock worth $3,606,000 after buying an additional 41,055 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Kforce by 40.6% in the second quarter. Macquarie Group Ltd. now owns 1,021,504 shares of the company’s stock worth $17,253,000 after buying an additional 295,173 shares during the period. Hedge funds and other institutional investors own 82.35% of the company’s stock.
Several brokerages have recently weighed in on KFRC. Zacks Investment Research cut Kforce from a “hold” rating to a “sell” rating in a research report on Monday, October 24th. Deutsche Bank AG set a $19.00 price target on Kforce and gave the company a “hold” rating in a research report on Tuesday, October 18th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $21.00 price target on shares of Kforce in a research report on Wednesday, August 3rd.
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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