Kforce Inc. (KFRC) Trading Up 1.4%
Kforce Inc. (NASDAQ:KFRC) shares were up 1.4% during mid-day trading on Tuesday . The company traded as high as $17.37 and last traded at $17.30, with a volume of 59,923 shares changing hands. The stock had previously closed at $17.06.
Separately, Zacks Investment Research upgraded Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday.
The firm has a market capitalization of $448.79 million and a PE ratio of 11.66. The firm has a 50-day moving average price of $18.07 and a 200-day moving average price of $19.23.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.01. During the same period in the prior year, the company posted $0.20 earnings per share. The business earned $322.20 million during the quarter, compared to the consensus estimate of $324.50 million. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Kforce Inc. will post $1.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.80%.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of Kforce stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the completion of the sale, the chief operating officer now owns 110,613 shares of the company’s stock, valued at approximately $2,166,908.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Jeffrey T. Neal sold 5,666 shares of Kforce stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $19.29, for a total value of $109,297.14. Following the sale, the chief marketing officer now directly owns 117,013 shares of the company’s stock, valued at approximately $2,257,180.77. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of KFRC. California State Teachers Retirement System boosted its stake in shares of Kforce by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 45,742 shares of the company’s stock worth $1,156,000 after buying an additional 900 shares in the last quarter. New York State Common Retirement Fund raised its position in Kforce by 6.6% in the fourth quarter. New York State Common Retirement Fund now owns 66,565 shares of the company’s stock worth $1,683,000 after buying an additional 4,115 shares during the last quarter. Regal Investment Advisors LLC raised its position in Kforce by 6.3% in the fourth quarter. Regal Investment Advisors LLC now owns 147,587 shares of the company’s stock worth $3,730,000 after buying an additional 8,718 shares during the last quarter. Redwood Investments LLC raised its position in Kforce by 21.9% in the fourth quarter. Redwood Investments LLC now owns 100,723 shares of the company’s stock worth $2,546,000 after buying an additional 18,072 shares during the last quarter. Finally, RidgeWorth Capital Management LLC bought a new position in Kforce during the fourth quarter worth $3,576,000.
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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