Versor Investments LP Makes New $916,000 Investment in Kforce Inc. (NASDAQ:KFRC)

Versor Investments LP acquired a new position in shares of Kforce Inc. (NASDAQ:KFRC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 14,900 shares of the business services provider’s stock, valued at approximately $916,000.

A number of other hedge funds have also recently added to or reduced their stakes in KFRC. Atria Investments Inc grew its position in shares of Kforce by 6.4% during the third quarter. Atria Investments Inc now owns 6,849 shares of the business services provider’s stock worth $421,000 after acquiring an additional 410 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Kforce by 2.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 33,815 shares of the business services provider’s stock worth $2,078,000 after purchasing an additional 821 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Kforce by 10.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,722 shares of the business services provider’s stock worth $660,000 after purchasing an additional 1,043 shares during the last quarter. Raymond James & Associates increased its stake in Kforce by 3.8% in the third quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock valued at $6,038,000 after purchasing an additional 3,560 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Kforce by 259.5% in the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock valued at $95,000 after buying an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Kforce Stock Performance

NASDAQ KFRC opened at $61.19 on Wednesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 21.10 and a beta of 0.88. The business’s 50 day moving average is $59.26 and its two-hundred day moving average is $62.07. Kforce Inc. has a 12-month low of $52.96 and a 12-month high of $74.79. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. The firm had revenue of $353.30 million during 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%. Kforce’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Research analysts expect that Kforce Inc. will post 2.68 EPS for the current year.

Kforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, December 6th. This represents a $1.52 annualized dividend and a yield of 2.48%. Kforce’s payout ratio is currently 52.41%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial cut their price target on Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and two 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 an average target price of $66.67.

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.