Assenagon Asset Management S.A. Cuts Position in Kforce Inc. (NASDAQ:KFRC)

Posted by Defense World Staff on Oct 18th, 2023

Assenagon Asset Management S.A. lessened its holdings in Kforce Inc. (NASDAQ:KFRC – Free Report) by 71.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,319 shares of the business services provider’s stock after selling 30,852 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Kforce worth $772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Copeland Capital Management LLC grew its holdings in shares of Kforce by 34.7% during the first quarter. Copeland Capital Management LLC now owns 668 shares of the business services provider’s stock valued at $42,000 after buying an additional 172 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Kforce during the fourth quarter valued at approximately $56,000. Point72 Middle East FZE purchased a new stake in shares of Kforce during the fourth quarter valued at approximately $59,000. Quantbot Technologies LP grew its holdings in shares of Kforce by 83.3% during the second quarter. Quantbot Technologies LP now owns 1,100 shares of the business services provider’s stock valued at $67,000 after buying an additional 500 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Kforce during the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KFRC shares. StockNews.com started coverage on shares of Kforce in a report on Thursday, October 5th. They set a “hold” rating on the stock. UBS Group raised their target price on shares of Kforce from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Robert W. Baird dropped their target price on shares of Kforce from $65.00 to $62.00 in a report on Tuesday, August 1st.

View Our Latest Report on Kforce

Insiders Place Their Bets

In other Kforce news, Director Elaine Rosen sold 2,250 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $57.53, for a total value of $129,442.50. Following the transaction, the director now directly owns 13,836 shares in the company, valued at $795,985.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Kforce Trading Up 0.4 %

Shares of KFRC stock opened at $60.05 on Wednesday. Kforce Inc. has a 12-month low of $49.35 and a 12-month high of $66.74. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $59.86 and its 200 day moving average is $60.52. The stock has a market capitalization of $1.21 billion, a P/E ratio of 18.71 and a beta of 0.88.

Kforce (NASDAQ:KFRC – Get Free Report) last issued its earnings results on Monday, July 31st. The business services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Kforce had a return on equity of 39.62% and a net margin of 3.88%. The company had revenue of $389.10 million during the quarter, compared to analysts’ expectations of $395.87 million. During the same quarter in the prior year, the business posted $1.30 EPS. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. Research analysts expect that Kforce Inc. will post 3.28 earnings per share for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.36 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 2.40%. Kforce’s payout ratio is presently 44.86%.

Kforce Company Profile

(Free Report)

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.