Kforce (NASDAQ:KFRC) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other equities analysts have also issued reports on KFRC. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 15th. Truist Financial cut their target price on shares of Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.67.

Kforce Trading Down 3.4 %

NASDAQ KFRC opened at $55.85 on Thursday. The stock’s 50-day simple moving average is $59.92 and its two-hundred day simple moving average is $62.23. Kforce has a twelve month low of $52.96 and a twelve month high of $74.79. The company has a quick ratio of 2.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 19.26 and a beta of 0.88.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. Research analysts forecast that Kforce will post 2.68 EPS for the current fiscal year.

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s payout ratio is 52.41%.

Institutional Investors Weigh In On Kforce

A number of hedge funds have recently modified their holdings of KFRC. Hantz Financial Services Inc. bought a new position in Kforce in the 2nd quarter worth $1,488,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Kforce by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock worth $47,020,000 after buying an additional 23,920 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Kforce by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 75,081 shares of the business services provider’s stock worth $4,665,000 after buying an additional 14,925 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Kforce by 0.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock worth $149,238,000 after buying an additional 13,706 shares during the period. Finally, Sei Investments Co. boosted its holdings in Kforce by 36.1% in the 1st quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock worth $3,207,000 after buying an additional 12,050 shares during the period. Institutional investors own 92.77% of the company’s stock.

About Kforce

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.