HighTower Advisors LLC Increases Stock Position in Kforce Inc. (NASDAQ:KFRC)

Posted by Defense World Staff on May 19th, 2023

HighTower Advisors LLC increased its holdings in shares of Kforce Inc. (NASDAQ:KFRC – Get Rating) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,775 shares of the business services provider’s stock after purchasing an additional 233 shares during the period. HighTower Advisors LLC owned 0.56% of Kforce worth $6,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KFRC. Bank of New York Mellon Corp lifted its holdings in Kforce by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 139,436 shares of the business services provider’s stock worth $10,315,000 after buying an additional 704 shares in the last quarter. US Bancorp DE lifted its holdings in Kforce by 4.8% in the 1st quarter. US Bancorp DE now owns 8,023 shares of the business services provider’s stock worth $593,000 after buying an additional 367 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Kforce by 0.7% in the 1st quarter. Bank of Montreal Can now owns 25,409 shares of the business services provider’s stock valued at $1,917,000 after purchasing an additional 184 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Kforce by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 11,075 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 3,897 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kforce by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,920 shares of the business services provider’s stock valued at $60,651,000 after purchasing an additional 12,263 shares in the last quarter. 88.09% of the stock is owned by hedge funds and other institutional investors.

Kforce Price Performance

Shares of NASDAQ:KFRC opened at $56.60 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.12. Kforce Inc. has a fifty-two week low of $49.35 and a fifty-two week high of $69.29. The firm has a 50-day simple moving average of $60.81 and a 200 day simple moving average of $58.58. The company has a market cap of $1.15 billion, a PE ratio of 15.90 and a beta of 0.91.

Kforce (NASDAQ:KFRC – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Kforce had a net margin of 4.26% and a return on equity of 42.70%. The business had revenue of $406.00 million for the quarter, compared to the consensus estimate of $411.56 million. During the same period in the prior year, the company earned $0.93 EPS. Kforce’s quarterly revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that Kforce Inc. will post 3.57 EPS for the current year.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 15th. Kforce’s dividend payout ratio (DPR) is 40.45%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Robert W. Baird lowered their price objective on shares of Kforce from $70.00 to $65.00 in a research report on Tuesday, May 9th.

Insiders Place Their Bets

In other Kforce news, CMO Andrew G. Thomas sold 20,000 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $61.83, for a total value of $1,236,600.00. Following the completion of the transaction, the chief marketing officer now owns 91,459 shares in the company, valued at approximately $5,654,909.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is owned by insiders.

About Kforce

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Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.