Campbell & CO Investment Adviser LLC lowered its stake in shares of Kforce Inc. (NASDAQ:KFRC) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,828 shares of the business services provider’s stock after selling 1,200 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Kforce were worth $456,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Kforce by 5.3% during the fourth quarter. BlackRock Inc. now owns 2,139,511 shares of the business services provider’s stock worth $90,052,000 after buying an additional 108,234 shares during the last quarter. FIL Ltd acquired a new position in Kforce during the fourth quarter worth $17,093,000. Royce & Associates LP boosted its stake in Kforce by 4.4% during the fourth quarter. Royce & Associates LP now owns 251,956 shares of the business services provider’s stock worth $10,605,000 after buying an additional 10,706 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Kforce in the third quarter valued at $7,943,000. Finally, Charles Schwab Investment Management Inc. raised its position in Kforce by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 245,440 shares of the business services provider’s stock valued at $7,896,000 after purchasing an additional 10,603 shares during the period. 77.34% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Truist lifted their target price on Kforce from $37.00 to $48.00 in a research report on Wednesday, January 20th. Credit Suisse Group lifted their target price on Kforce from $37.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, February 9th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, February 9th. Finally, Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Monday, January 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.29.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Sunday, February 7th. The business services provider reported $0.86 earnings per share 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 company had revenue of $354.00 million for the quarter, compared to the consensus estimate of $345.00 million. During the same quarter in the prior year, the business earned $0.66 EPS. Kforce’s revenue was up 5.3% on a year-over-year basis. Equities research analysts anticipate that Kforce Inc. will post 2.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be issued a dividend of $0.23 per share. This is an increase from Kforce’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, March 11th. This represents a $0.92 annualized dividend and a yield of 1.84%. Kforce’s dividend payout ratio is 34.04%.
In other news, Director Ralph Struzziero sold 4,811 shares of the company’s stock in a transaction dated Wednesday, December 9th. The stock was sold at an average price of $43.05, for a total transaction of $207,113.55. Following the completion of the transaction, the director now directly owns 8,596 shares of the company’s stock, valued at approximately $370,057.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jeffrey B. Hackman sold 1,100 shares of the company’s stock in a transaction dated Wednesday, January 6th. The stock was sold at an average price of $44.68, for a total value of $49,148.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,715 shares of company stock worth $3,887,354. 10.80% of the stock is owned by company insiders.
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.
Further Reading: Recession
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