Kforce Inc. (KFRC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.
Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kforce Inc. (NASDAQ:KFRC) by 168.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,325 shares of the business services provider’s stock after purchasing an additional 28,425 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kforce were worth $1,704,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in Kforce by 8.0% in the second quarter. Bank of Montreal Can now owns 62,709 shares of the business services provider’s stock worth $2,151,000 after acquiring an additional 4,668 shares during the period. First Trust Advisors LP boosted its position in Kforce by 16.5% in the second quarter. First Trust Advisors LP now owns 26,363 shares of the business services provider’s stock worth $904,000 after purchasing an additional 3,737 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Kforce by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 10,968 shares of the business services provider’s stock valued at $376,000 after buying an additional 1,504 shares in the last quarter. IndexIQ Advisors LLC lifted its position in shares of Kforce by 8.7% during the 2nd quarter. IndexIQ Advisors LLC now owns 80,864 shares of the business services provider’s stock valued at $2,774,000 after buying an additional 6,445 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in shares of Kforce by 43.8% during the 2nd quarter. Engineers Gate Manager LP now owns 33,370 shares of the business services provider’s stock valued at $1,145,000 after buying an additional 10,159 shares in the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.
Several analysts recently issued reports on KFRC shares. BidaskClub downgraded Kforce from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 12th. ValuEngine downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Credit Suisse Group initiated coverage on Kforce in a report on Friday, August 10th. They set a “neutral” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.40.
Shares of KFRC stock opened at $30.15 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $777.53 million, a PE ratio of 19.20 and a beta of 1.74. Kforce Inc. has a fifty-two week low of $23.80 and a fifty-two week high of $43.51.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $355.45 million for the quarter, compared to analysts’ expectations of $356.89 million. Kforce had a return on equity of 36.45% and a net margin of 3.40%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. Research analysts anticipate that Kforce Inc. will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a $0.18 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.39%. Kforce’s dividend payout ratio (DPR) is presently 45.86%.
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Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) 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, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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