Kforce (NASDAQ:KFRC) Price Target Raised to $66.00

Kforce (NASDAQ:KFRC) had its price objective raised by Robert W. Baird from $63.00 to $66.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

KFRC has been the topic of a number of other research reports. UBS Group set a $59.00 target price on Kforce in a report on Tuesday, July 28th. Zacks Research cut Kforce from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Truist Financial raised their target price on Kforce from $38.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.

Kforce Trading Up 1.2%

Shares of KFRC opened at $57.76 on Tuesday. The firm’s 50-day moving average price is $53.42 and its 200-day moving average price is $43.78. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 21.55 and a beta of 0.90. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce has a 1-year low of $24.49 and a 1-year high of $61.75.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, July 27th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company had revenue of $349.33 million for the quarter, compared to analysts’ expectations of $348.11 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. Kforce’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Kforce will post 2.70 EPS for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, December 4th. Kforce’s dividend payout ratio (DPR) is 66.95%.

Institutional Investors Weigh In On Kforce

Several hedge funds have recently bought and sold shares of KFRC. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kforce during the 3rd quarter valued at about $70,000. Vise Technologies Inc. bought a new position in shares of Kforce in the 3rd quarter worth approximately $334,000. State of Wyoming lifted its stake in shares of Kforce by 96.0% in the 3rd quarter. State of Wyoming now owns 10,665 shares of the business services provider’s stock worth $559,000 after purchasing an additional 5,225 shares during the period. Access Investment Management LLC lifted its stake in shares of Kforce by 2.4% in the 3rd quarter. Access Investment Management LLC now owns 67,734 shares of the business services provider’s stock worth $3,553,000 after purchasing an additional 1,570 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Kforce by 849.2% in the third quarter. Sterling Capital Management LLC now owns 560 shares of the business services provider’s stock worth $29,000 after buying an additional 501 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

About Kforce

Kforce Inc is a professional staffing and business solutions firm that connects organizations with skilled workers and provides services designed to support workforce and project needs. The company primarily operates through its Technology and Finance & Accounting segments.

Kforce Technology provides staffing, consulting, and project-based solutions for areas such as application development, data management, cloud computing, cybersecurity, and other information technology functions.