Kforce (NASDAQ:KFRC) Cut to “Hold” at Zacks Investment Research
According to Zacks, “kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). “
Several other research analysts have also commented on KFRC. Truist Financial lifted their price objective on shares of Kforce from $30.00 to $35.00 in a research note on Tuesday, August 11th. Credit Suisse Group upped their price target on shares of Kforce from $36.00 to $37.00 and gave the company a neutral rating in a report on Tuesday, November 3rd. BidaskClub lowered shares of Kforce from a buy rating to a hold rating in a research report on Saturday, November 7th. Finally, William Blair upgraded Kforce from a market perform rating to an outperform rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Kforce presently has a consensus rating of Hold and a consensus price target of $35.00.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, November 2nd. The business services provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $365.40 million for the quarter, compared to the consensus estimate of $349.84 million. Kforce had a return on equity of 33.20% and a net margin of 3.77%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, equities analysts predict that Kforce will post 2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.00%. Kforce’s dividend payout ratio is currently 34.04%.
In other news, Director Ralph Struzziero sold 1,987 shares of Kforce stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $41.73, for a total transaction of $82,917.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in shares of Kforce by 95.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,621 shares of the business services provider’s stock worth $48,000 after buying an additional 793 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Kforce by 14,220.0% in the third quarter. Meeder Asset Management Inc. now owns 2,864 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 2,844 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kforce by 212.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,304 shares of the business services provider’s stock worth $126,000 after acquiring an additional 2,926 shares during the period. Advisor Group Holdings Inc. bought a new position in Kforce during the 1st quarter worth about $141,000. Finally, BNP Paribas Arbitrage SA increased its position in Kforce by 252.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,586 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 3,285 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.
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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