State Board of Administration of Florida Retirement System boosted its stake in Kforce Inc. (NASDAQ:KFRC) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 30,069 shares of the company’s stock after buying an additional 272 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Kforce worth $508,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the company. Royce & Associates LP raised its position in Kforce by 67.1% in the first quarter. Royce & Associates LP now owns 424,474 shares of the company’s stock valued at $8,311,000 after buying an additional 170,500 shares during the period. Dean Investment Associates LLC raised its position in Kforce by 162.2% in the second quarter. Dean Investment Associates LLC now owns 218,570 shares of the company’s stock valued at $3,692,000 after buying an additional 135,216 shares during the period. Bogle Investment Management L P DE acquired a new position in Kforce during the first quarter valued at about $2,586,000. TIAA CREF Investment Management LLC raised its position in Kforce by 50.9% in the first quarter. TIAA CREF Investment Management LLC now owns 198,918 shares of the company’s stock valued at $3,895,000 after buying an additional 67,084 shares during the period. Finally, Prudential Financial Inc. raised its position in Kforce by 57.9% in the first quarter. Prudential Financial Inc. now owns 172,880 shares of the company’s stock valued at $3,385,000 after buying an additional 63,425 shares during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kforce Inc. (NASDAQ:KFRC) traded down 0.34% during midday trading on Thursday, hitting $20.34. 19,723 shares of the company’s stock were exchanged. Kforce Inc. has a 52 week low of $14.87 and a 52 week high of $28.84. The firm has a market cap of $532.79 million, a price-to-earnings ratio of 13.82 and a beta of 1.56. The company has a 50-day moving average of $19.33 and a 200-day moving average of $18.66.
Kforce (NASDAQ:KFRC) last announced its 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. Kforce had a net margin of 3.01% and a return on equity of 31.94%. The company had revenue of $335 million for the quarter, compared to analyst estimates of $334.91 million. During the same period in the prior year, the business earned $0.41 earnings per share. Kforce’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that Kforce Inc. will post $1.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.35%. Kforce’s payout ratio is 32.88%.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank AG assumed coverage on shares of Kforce in a research report on Wednesday, August 17th. They set a “hold” rating and a $19.00 price objective on the stock. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $21.00 price objective on shares of Kforce in a research report on Wednesday, August 3rd.
In related news, COO Kye L. Mitchell sold 3,732 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.82, for a total value of $73,968.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Joseph J. Liberatore sold 75,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were 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. Insiders own 12.80% of the company’s stock.
Kforce Company Profile
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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