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

Kforce Inc. (NASDAQ:KFRC)’s share price gapped down before the market opened 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.

Other equities analysts have also recently issued research reports about the company. 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. StockNews.com lowered Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kforce presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC purchased a new position in Kforce in the 3rd quarter valued at approximately $7,069,000. Vaughan Nelson Investment Management L.P. grew its holdings in Kforce by 14.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock valued at $51,682,000 after purchasing an additional 93,180 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Kforce by 97.1% in the third quarter. Envestnet Asset Management Inc. now owns 122,694 shares of the business services provider’s stock valued at $7,320,000 after buying an additional 60,436 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of Kforce during the 4th quarter worth $3,103,000. Finally, Franklin Resources Inc. raised its stake in shares of Kforce by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock worth $67,530,000 after buying an additional 40,527 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

Kforce Stock Up 1.7 %

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 firm’s 50-day moving average is $67.88 and its 200 day moving average is $66.48. The firm has a market capitalization of $1.23 billion, a PE ratio of 21.72 and a beta of 0.88.

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

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, June 14th. Kforce’s payout ratio is 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.