253,085 Kforce Inc. $KFRC Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. lessened its stake in Kforce Inc. (NASDAQ:KFRC) by 40.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 372,896 shares of the business services provider’s stock after selling 253,085 shares during the quarter. Kforce makes up approximately 1.3% of New South Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. New South Capital Management Inc.’s holdings in Kforce were worth $19,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KFRC. Abacus Wealth Partners LLC increased its holdings in 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 during the last quarter. CenterBook Partners LP bought a new stake in Kforce during the third quarter worth $233,000. Heritage Family Offices LLP bought a new stake in Kforce during the third quarter worth $34,000. Chicago Partners Investment Group LLC acquired a new stake in Kforce in the third quarter valued at $202,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Kforce in the third quarter valued at $70,000. 92.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Kforce news, Director David L. Dunkel sold 500 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $59.10, for a total transaction of $29,550.00. Following the completion of the sale, the director owned 503,329 shares of the company’s stock, valued at $29,746,743.90. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kforce Stock Performance

KFRC opened at $55.17 on Thursday. Kforce Inc. has a 12-month low of $25.07 and a 12-month high of $61.75. The stock has a market cap of $987.98 million, a price-to-earnings ratio of 20.59 and a beta of 0.87. The business has a 50 day moving average of $53.23 and a 200-day moving average of $44.76. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce Announces Dividend

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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, December 4th. Kforce’s dividend payout ratio is 66.95%.

About Kforce

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.