Baird Financial Group Inc. Takes $226,000 Position in Kforce Inc. (KFRC)

Baird Financial Group Inc. acquired a new stake in Kforce Inc. (NASDAQ:KFRC) in the second quarter, Holdings Channel reports. The firm acquired 6,585 shares of the business services provider’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in Kforce by 29.4% in the second quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock valued at $71,027,000 after buying an additional 471,012 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Kforce by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,461,301 shares of the business services provider’s stock valued at $50,123,000 after buying an additional 4,460 shares during the last quarter. Royce & Associates LP lifted its stake in Kforce by 32.4% in the second quarter. Royce & Associates LP now owns 637,636 shares of the business services provider’s stock valued at $21,871,000 after buying an additional 156,117 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Kforce by 80.2% in the second quarter. Acadian Asset Management LLC now owns 352,976 shares of the business services provider’s stock valued at $12,106,000 after purchasing an additional 157,123 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Kforce by 1.2% in the second 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. Institutional investors own 79.70% of the company’s stock.

In related news, CEO David L. Dunkel sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $42.50, for a total transaction of $1,062,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Howard W. Sutter sold 9,710 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $42.50, for a total value of $412,675.00. The disclosure for this sale can be found here. Insiders have sold 92,991 shares of company stock worth $3,881,661 in the last ninety days. 13.30% of the stock is currently owned by corporate insiders.

A number of research firms have recently issued reports on KFRC. Credit Suisse Group began coverage on Kforce in a report on Friday, August 10th. They issued 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 report on Saturday, August 4th. Robert W. Baird reissued a “buy” rating and issued a $45.00 target price on shares of Kforce in a report on Thursday, August 2nd. SunTrust Banks boosted their target price on Kforce to $44.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Finally, BidaskClub lowered Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $41.40.

NASDAQ:KFRC opened at $38.30 on Monday. The company has a market capitalization of $1.00 billion, a PE ratio of 24.39 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 Inc. has a 12-month low of $17.56 and a 12-month high of $43.51.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, September 6th. This is a positive change from Kforce’s previous quarterly dividend of $0.12. Kforce’s dividend payout ratio is currently 45.86%.

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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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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