Kforce (NASDAQ:KFRC) Sees Strong Trading Volume – What’s Next?

Kforce Inc. (NASDAQ:KFRC) saw unusually-strong trading volume on Tuesday . Approximately 272,212 shares changed hands during trading, an increase of 157% from the previous session’s volume of 105,930 shares.The stock last traded at $54.57 and had previously closed at $53.57.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, October 15th. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Kforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.75.

Kforce Stock Performance

The company has a market cap of $1.07 billion, a P/E ratio of 17.69 and a beta of 0.87. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $61.06 and its two-hundred day moving average price is $62.70.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, July 29th. The business services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The business had revenue of $356.32 million during the quarter, compared to analyst estimates of $356.20 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, September 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.76%. Kforce’s payout ratio is 56.51%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KFRC. Wellington Management Group LLP lifted its position in Kforce by 151.5% during the fourth quarter. Wellington Management Group LLP now owns 62,280 shares of the business services provider’s stock worth $4,208,000 after purchasing an additional 37,512 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Kforce by 14.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock worth $51,682,000 after purchasing an additional 93,180 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Kforce by 357.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,932 shares of the business services provider’s stock worth $700,000 after buying an additional 7,760 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Kforce by 487.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 670 shares of the business services provider’s stock worth $47,000 after purchasing an additional 556 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kforce by 34.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,327 shares of the business services provider’s stock valued at $1,013,000 after buying an additional 3,918 shares during the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

Kforce Company Profile

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