IndexIQ Advisors LLC grew its position in shares of Kforce, Inc. (NASDAQ:KFRC) by 83.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,495 shares of the business services provider’s stock after purchasing an additional 16,569 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.14% of Kforce worth $737,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Investment Counselors of Maryland LLC lifted its position in Kforce by 27.8% in the second quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock valued at $19,694,000 after purchasing an additional 218,650 shares during the period. Opus Capital Group LLC lifted its position in shares of Kforce by 1,309.7% during the 2nd quarter. Opus Capital Group LLC now owns 210,493 shares of the business services provider’s stock valued at $4,126,000 after acquiring an additional 195,561 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Kforce during the 2nd quarter valued at approximately $3,435,000. Macquarie Group Ltd. lifted its position in shares of Kforce by 16.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,136,060 shares of the business services provider’s stock valued at $22,267,000 after acquiring an additional 164,268 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Kforce by 28.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 715,659 shares of the business services provider’s stock valued at $14,027,000 after acquiring an additional 157,134 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
KFRC has been the subject of a number of research reports. Northcoast Research upgraded shares of Kforce from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research upgraded shares of Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks, Inc. downgraded Kforce from a “buy” rating to a “hold” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.20.
In other Kforce news, insider Kye L. Mitchell sold 2,550 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $24.35, for a total value of $62,092.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director N John Simmons sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $23.31, for a total transaction of $116,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,250 shares of company stock worth $1,070,388 in the last 90 days. Company insiders own 13.30% of the company’s stock.
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Kforce, Inc. (NASDAQ:KFRC) traded down $0.20 during mid-day trading on Thursday, reaching $25.30. 54,800 shares of the company’s stock traded hands, compared to its average volume of 127,808. Kforce, Inc. has a 12-month low of $16.75 and a 12-month high of $26.95. The stock has a market cap of $674.91, a PE ratio of 17.23 and a beta of 1.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.95.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Kforce had a net margin of 2.71% and a return on equity of 28.83%. The company had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $340.67 million. During the same period in the previous year, the company earned $0.44 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. equities analysts anticipate that Kforce, Inc. will post 1.5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.90%. Kforce’s payout ratio is 33.57%.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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