Kforce (NASDAQ:KFRC) Hits New 12-Month Low – Here’s Why

Kforce Inc. (NASDAQ:KFRC) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $50.97 and last traded at $51.47, with a volume of 117480 shares traded. The stock had previously closed at $51.30.

Analyst Ratings Changes

Several research firms have recently weighed in on KFRC. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, October 15th. Finally, Truist Financial lowered their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th.

Kforce Stock Up 0.3 %

The company has a market capitalization of $982.12 million, a PE ratio of 19.21 and a beta of 0.88. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $56.44 and a two-hundred day simple moving average of $59.39.

Kforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Kforce’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, March 7th. Kforce’s dividend payout ratio (DPR) is 56.72%.

Hedge Funds Weigh In On Kforce

A number of large investors have recently bought and sold shares of KFRC. The Manufacturers Life Insurance Company boosted its holdings in shares of Kforce by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 9,508 shares of the business services provider’s stock valued at $591,000 after acquiring an additional 373 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Kforce in the second quarter valued at about $211,000. Inspire Investing LLC boosted its holdings in Kforce by 17.9% in the 3rd quarter. Inspire Investing LLC now owns 6,673 shares of the business services provider’s stock valued at $410,000 after purchasing an additional 1,014 shares in the last quarter. Blue Trust Inc. increased its position in Kforce by 259.5% during the 3rd quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,108 shares during the period. Finally, Raymond James & Associates raised its stake in shares of Kforce by 3.8% during the 3rd quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock worth $6,038,000 after buying an additional 3,560 shares in the last quarter. Hedge funds and other 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.