Kforce Inc. $KFRC Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. lessened its position in shares of Kforce Inc. (NASDAQ:KFRC) by 40.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,896 shares of the business services provider’s stock after selling 253,085 shares during the period. Kforce comprises 1.3% of New South Capital Management Inc.’s holdings, making the stock its 24th largest position. New South Capital Management Inc. owned approximately 2.08% of Kforce worth $19,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Abacus Wealth Partners LLC grew its holdings in shares of Kforce by 10.4% during the third quarter. Abacus Wealth Partners LLC now owns 11,223 shares of the business services provider’s stock worth $589,000 after buying an additional 1,054 shares in the last quarter. CenterBook Partners LP acquired a new stake in Kforce in the 3rd quarter valued at approximately $233,000. Heritage Family Offices LLP acquired a new stake in Kforce in the 3rd quarter valued at approximately $34,000. Chicago Partners Investment Group LLC bought a new stake in Kforce in the 3rd quarter valued at approximately $202,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Kforce in the 3rd quarter valued at approximately $70,000. Institutional investors and hedge funds own 92.77% of the company’s stock.

Kforce Trading Up 0.3%

Shares of NASDAQ:KFRC opened at $55.17 on Thursday. The company’s 50-day moving average price is $53.23 and its two-hundred day moving average price is $44.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. Kforce Inc. has a one year low of $25.07 and a one year high of $61.75. The stock has a market capitalization of $987.98 million, a PE ratio of 20.59 and a beta of 0.87.

Kforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, December 4th. Kforce’s dividend payout ratio is presently 66.95%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KFRC shares. Truist Financial upped their price target on Kforce from $38.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. UBS Group lifted their price objective on shares of Kforce from $59.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, October 27th. Finally, Robert W. Baird boosted their price objective on shares of Kforce from $63.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kforce currently has an average rating of “Hold” and a consensus target price of $63.00.

Insider Transactions at Kforce

In related news, Director David L. Dunkel sold 500 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $59.10, for a total transaction of $29,550.00. Following the sale, the director owned 503,329 shares in the company, valued at approximately $29,746,743.90. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.30% of the company’s stock.

Kforce Company Profile

Kforce Inc. is a professional staffing and solutions firm that connects organizations with skilled talent. Its services include contract staffing, contract-to-hire and direct-hire placements, as well as consulting and project-based solutions. The company focuses on two main areas: technology, including software development and related technical roles, and finance and accounting, including professionals in accounting, financial analysis and related functions. Founded in 1962 and headquartered in Tampa, Florida, Kforce primarily serves clients across the United States through its network of offices and recruiting teams.