Richard M. Cocchiaro Sells 1,019 Shares of Kforce Inc. (KFRC) Stock

Kforce Inc. (NASDAQ:KFRC) Director Richard M. Cocchiaro sold 1,019 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $42.50, for a total value of $43,307.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kforce stock traded down $0.45 during trading on Friday, hitting $42.00. 300 shares of the company were exchanged, compared to its average volume of 160,576. Kforce Inc. has a 52 week low of $17.56 and a 52 week high of $43.51. The company has a market capitalization of $1.10 billion, a P/E ratio of 26.78 and a beta of 1.64. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.68.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Kforce had a return on equity of 34.52% and a net margin of 3.00%. The business had revenue of $358.62 million during the quarter, compared to the consensus estimate of $358.07 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. Kforce’s revenue was up 5.4% compared to the same quarter last year. analysts predict that Kforce Inc. will post 2.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.72 annualized dividend and a yield of 1.71%. This is an increase from Kforce’s previous quarterly dividend of $0.12. Kforce’s dividend payout ratio is 30.57%.

A number of brokerages have recently weighed in on KFRC. Credit Suisse Group began coverage on Kforce in a research report on Friday, August 10th. They set a “neutral” rating and a $38.00 target price on the stock. Zacks Investment Research raised Kforce from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Saturday, August 4th. Robert W. Baird reiterated a “buy” rating and set a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. SunTrust Banks upped their price target on Kforce to $44.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Finally, BidaskClub upgraded Kforce from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 16th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Kforce presently has a consensus rating of “Buy” and a consensus target price of $41.40.

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Kforce by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,968 shares of the business services provider’s stock worth $376,000 after buying an additional 1,504 shares in the last quarter. Citigroup Inc. grew its stake in Kforce by 84.0% in the 1st quarter. Citigroup Inc. now owns 6,848 shares of the business services provider’s stock valued at $185,000 after purchasing an additional 3,127 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Kforce by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 285,520 shares of the business services provider’s stock valued at $9,794,000 after purchasing an additional 3,491 shares during the period. First Trust Advisors LP grew its stake in Kforce by 16.5% in the 2nd quarter. First Trust Advisors LP now owns 26,363 shares of the business services provider’s stock valued at $904,000 after purchasing an additional 3,737 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Kforce by 207.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,567 shares of the business services provider’s stock valued at $191,000 after purchasing an additional 3,759 shares during the period. Institutional investors and hedge funds own 79.75% of the company’s stock.

About Kforce

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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