Kforce (NASDAQ:KFRC) Shares Gap Down Following Analyst Downgrade

Kforce Inc. (NASDAQ:KFRC) shares gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $72.00 to $71.00. The stock had previously closed at $64.23, but opened at $58.33. Robert W. Baird currently has an outperform rating on the stock. Kforce shares last traded at $62.01, with a volume of 30,285 shares traded.

Several other research firms have also recently issued reports on KFRC. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Truist Financial boosted their target price on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $68.00.

Institutional Investors Weigh In On Kforce

Hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its stake in Kforce by 420.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 448 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 362 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Kforce by 487.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the business services provider’s stock valued at $47,000 after buying an additional 556 shares in the last quarter. First Horizon Advisors Inc. raised its position in Kforce by 22.8% during the third quarter. First Horizon Advisors Inc. now owns 1,207 shares of the business services provider’s stock valued at $72,000 after buying an additional 224 shares during the period. Virtu Financial LLC purchased a new stake in Kforce in the 4th quarter worth about $207,000. Finally, GW Henssler & Associates Ltd. acquired a new stake in Kforce during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Trading Up 1.7 %

The company has a market cap of $1.23 billion, a PE ratio of 21.72 and a beta of 0.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. The company has a 50 day simple moving average of $67.88 and a two-hundred day simple moving average of $66.48.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $351.89 million during the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a net margin of 3.78% and a return on equity of 35.83%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Sell-side analysts forecast that Kforce Inc. will post 2.82 EPS for the current year.

Kforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, June 14th. Kforce’s dividend payout ratio (DPR) is presently 52.60%.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.