Kforce (NASDAQ:KFRC) Hits New 12-Month High at $50.84


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Kforce Inc. (NASDAQ:KFRC) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.84 and last traded at $49.16, with a volume of 3212 shares. The stock had previously closed at $49.98.

A number of research firms recently issued reports on KFRC. Truist increased their target price on shares of Kforce from $37.00 to $48.00 in a research report on Wednesday, January 20th. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Monday, January 4th. Credit Suisse Group increased their price objective on shares of Kforce from $37.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, February 9th. Finally, Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, February 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Kforce has an average rating of “Buy” and a consensus price target of $42.29.

The company has a 50 day moving average of $44.95 and a 200-day moving average of $39.45. The stock has a market capitalization of $1.09 billion, a P/E ratio of 20.65 and a beta of 1.49. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Sunday, February 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.09. Kforce had a return on equity of 32.56% and a net margin of 3.77%. The firm had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $345.00 million. During the same period last year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts forecast that Kforce Inc. will post 2.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. This is a boost from Kforce’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, March 11th. Kforce’s dividend payout ratio (DPR) is presently 34.04%.

In other news, insider Kye L. Mitchell sold 3,497 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $46.49, for a total transaction of $162,575.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark F. Furlong sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $47.85, for a total value of $1,196,250.00. Insiders sold 87,715 shares of company stock worth $3,887,354 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of KFRC. Nisa Investment Advisors LLC acquired a new position in shares of Kforce during the fourth quarter valued at $59,000. Federated Hermes Inc. grew its holdings in Kforce by 21.5% during the third quarter. Federated Hermes Inc. now owns 1,970 shares of the business services provider’s stock worth $64,000 after acquiring an additional 349 shares during the period. Meeder Asset Management Inc. grew its holdings in Kforce by 14,220.0% during the third quarter. Meeder Asset Management Inc. now owns 2,864 shares of the business services provider’s stock worth $93,000 after acquiring an additional 2,844 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Kforce by 252.5% during the third quarter. BNP Paribas Arbitrage SA now owns 4,586 shares of the business services provider’s stock worth $148,000 after acquiring an additional 3,285 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Kforce during the third quarter worth about $207,000. 77.34% of the stock is currently owned by institutional investors.

About Kforce (NASDAQ:KFRC)

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

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