Alliancebernstein L.P. lowered its stake in Kforce (NASDAQ:KFRC) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,200 shares of the business services provider’s stock after selling 5,500 shares during the quarter. Alliancebernstein L.P.’s holdings in Kforce were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its stake in Kforce by 3.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 271,429 shares of the business services provider’s stock worth $6,854,000 after purchasing an additional 9,316 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kforce by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 224,510 shares of the business services provider’s stock valued at $4,535,000 after acquiring an additional 2,948 shares during the last quarter. Cortina Asset Management LLC bought a new stake in shares of Kforce during the 4th quarter valued at about $3,029,000. California Public Employees Retirement System boosted its position in shares of Kforce by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 119,477 shares of the business services provider’s stock valued at $2,413,000 after acquiring an additional 3,477 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Kforce by 3.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 97,379 shares of the business services provider’s stock valued at $2,459,000 after acquiring an additional 3,543 shares during the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.
A number of brokerages have recently issued reports on KFRC. Robert W. Baird lifted their price target on Kforce from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Saturday, February 3rd. BidaskClub downgraded Kforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 16th. Northcoast Research reiterated a “buy” rating and set a $33.00 price target on shares of Kforce in a research report on Wednesday, February 7th. Finally, ValuEngine downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.80.
Shares of KFRC opened at $28.50 on Tuesday. The stock has a market cap of $726.11, a PE ratio of 18.15 and a beta of 1.53. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.89. Kforce has a 12-month low of $16.75 and a 12-month high of $29.35.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, February 6th. The business services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $342.60 million during the quarter, compared to the consensus estimate of $340.02 million. Kforce had a return on equity of 29.84% and a net margin of 2.45%. Kforce’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. equities analysts forecast that Kforce will post 2.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were given a $0.12 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. Kforce’s payout ratio is 30.57%.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) 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, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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